Itc 2024 Fees Payment

Itc 2024 Fees Payment. To mitigate the risk of double taxation, the gst framework incorporates the input tax credit (itc) concept. Input tax credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs and pay the balance amount.

What is input tax credit? Section 16 of the cgst act lays down the conditions to be fulfilled by gst registered buyers to claim itc.