In respect of Haryana VAT in case of a trading concern if the output tax is less than input tax whether the Input Tax Credit has to be reversal to the extent the output tax liability is less than the input tax credit.
Menu
Input tax credit
Replies (1)
If Output tax = Rs.5000 & Input Tax is Rs.6000 then the balance of Input Tax of Rs.1000 will be carried forward to the next month as Input Tax Credit (ITC).
Recent Threads
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
- Regarding cancellation of GST Number
Related Threads
CAclubindia
