ITC Under GST - Issues, Solutions & Best Practices
Thurs, 13th Apr '23 | 4 - 5 pm
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Topic: ITC - Issues & Way Forward
Brief:
Input tax credit (ITC) is one of the most important components under the GST law. ITC helps taxpayers reduce their output tax liability by setting off the GST paid on their purchases. Hence, claiming accurate ITC is extremely important at the time of filing GST returns.
The GSTR-3B format was updated a few months ago to allow taxpayers to report input tax credit claimed, reversed, restricted, and reclaimed more effectively. Hence, it is crucial to understand these changes to know how to accurately report ITC in the GSTR-3B and correspondingly in the GSTR-9 tables. Further, there are several taxpayers that have doubts with regard to unique ITC cases, such as ITC on gifts or sales promotions, ITC on employee-related expenses, etc.
To clarify various ITC-related issues that businesses encounter, as well as the best practices for accurately reporting ITC in the GSTR-3B and GSTR-9, we at Clear are organising a webinar on 'Input Tax Credit Under GST - Key Issues, Solutions, and Best Practices’.
Please click on the link to register!
Points to be covered :
- How to accurately report ITC and ITC Reversal in the GSTR-3B and correspondingly in the GSTR-9
- ITC on gifts vis-à-vis- sales promotions
- ITC on employees and employee-related expenses
- Issues and intricacies of input tax credit under GST
- Live FAQ session
See You!
Team Clear