Hi friends In this video I want to show
How I reverse excess ITC?
what will you do if you claimed more then ITC you pay?
What is Input Tax Credit?

The meaning of ITC can be easily understood when we take the words ‘input’ and ‘tax credit’. Inputs are materials or services that a manufacturer purchase in order to manufacture his product or services which is his output.

A tax credit means the tax a producer was able to reduce while paying his tax on output.

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