Input Tax Credit (VAT) explained

WHAT IS INPUT TAX CREDIT ?

The essence of VAT is in providing set-off for the tax paid earlier, and this is given effect through the concept of input tax credit or rebate. The Input tax credit in relation to any period means setting off his Output tax. The value addition to the goods, and the related VAT liability of the dealer is calculated by deducting input tax credit from tax collected on sales during the payment period

Provision Illustrated:

Mr. Shri purchases input worth Rs. 22,00,000 and record sales of Rs. 27,00,000 in the month of January 2010. Input tax rate and output tax rate is 12.5 %. Compute Input tax credit.

Input procured within the State         (a) Rs. 22,00,000

Output Sold in the month                       (b) Rs. 27,00,000

Tax collected @ 12.5% on (b)               (c) Rs.   3,37,500

Input tax paid @ 12.5% on (a)               (d) Rs.   2,75,000

VAT payable during the month            (c)-(d)  Rs.62,500

131 Comments
  1. windows laptops 6 years ago

    What a great blog! Just entered this today and will going to look for updates.

  2. Thank you for another helpful web-site.. CloudTop Buy Used Laptops In Chennai In which more may I get in which style of details developed in a real perfect indicates? I own a goal that I’m just today concentrating on, so i have already been within the look away intended for this sort of data.

  3. over here 2 years ago

    It’s like a snowball effect, and the marketing just keeps getting easier and easier As long
    as you know that you have value to offer to these Realtors, you should never fear approaching
    them and soliciting business and referrals. Thus, the glut of information regarding domain name age continues
    to exist. If you on the other hand, have no intention of
    ever opening an Ad – Words Account or building websites with the purpose of making money then there is no
    need for you to invest in more advanced keyword tools.

  4. Some really excellent posts on this web site, thank you for contribution. “Once, power was considered a masculine attribute. In fact, power has no sex.” by Katharine Graham.

  5. You actually make it seem so easy with your presentation but I find this topic to be really something which I think I would never understand. It seems too complicated and extremely broad for me. I am looking forward for your next post, I will try to get the hang of it!

  6. Fantastic website. A lot of useful info here. I am sending it to a few buddies ans also sharing in delicious. And of course, thank you in your effort!

  7. Some really quality posts on this site, bookmarked .

  8. I have been browsing online more than 3 hours nowadays, but I by no means discovered any interesting article like yours. It is lovely value sufficient for me. Personally, if all site owners and bloggers made good content as you did, the internet will probably be much more useful than ever before.

  9. Pretty section of content. I just stumbled upon your site and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Anyway I will be subscribing to your augment and even I achievement you access consistently rapidly.

  10. Enjoyed reading through this, very good stuff, appreciate it. “Be not careless in deeds, nor confused in words, nor rambling in thought.” by Marcus Aurelius Antoninus.

  11. Hey, you used to write wonderful, but the last few posts have been kinda boring… I miss your super writings. Past few posts are just a bit out of track! come on!

  12. http://angielski.cf 2 years ago

    I don’t even know how I ended up here, but I thought this post was great. I do not know who you are but certainly you’re going to a famous blogger if you aren’t already 😉 Cheers!

  13. http://angielski.gq 2 years ago

    I like this post, enjoyed this one regards for putting up. “Abortion is advocated only by persons who have themselves been born.” by Ronald Reagan.

  14. http://angielski.cf 2 years ago

    You could certainly see your skills in the paintings you write. The sector hopes for more passionate writers such as you who aren’t afraid to say how they believe. At all times follow your heart. “If the grass is greener in the other fellow’s yard – let him worry about cutting it.” by Fred Allen.

  15. Good write-up, I am normal visitor of one’s website, maintain up the nice operate, and It’s going to be a regular visitor for a lengthy time.

  16. http://chrzantarty.gq 2 years ago

    I am also writing to make you understand of the outstanding experience my friend’s girl enjoyed checking yuor web blog. She mastered a wide variety of things, most notably what it is like to have a very effective giving mood to make the mediocre ones with no trouble fully understand a variety of impossible topics. You actually exceeded my desires. Thanks for imparting those necessary, trusted, edifying not to mention cool tips about this topic to Kate.

  17. http://chrzantarty.gq 2 years ago

    I’ve been absent for a while, but now I remember why I used to love this website. Thank you, I will try and check back more frequently. How frequently you update your website?

  18. Thanks for all your valuable work on this blog. Gloria take interest in carrying out investigations and it’s obvious why. All of us know all concerning the dynamic tactic you deliver useful information by means of this web site and as well attract response from people about this article and our child is now becoming educated a whole lot. Have fun with the remaining portion of the new year. You have been conducting a really good job.

  19. Pretty nice post. I just stumbled upon your blog and wished to say that I have really enjoyed browsing your blog posts. After all I will be subscribing to your rss feed and I hope you write again soon!

  20. I believe you have mentioned some very interesting points , thanks for the post.

  21. erectie krijgen 2 years ago

    Simply want to say your article is as amazing. The clarity in your post is just cool and i could assume you’re an expert on this subject. Well with your permission allow me to grab your RSS feed to keep up to date with forthcoming post. Thanks a million and please carry on the enjoyable work.

  22. retenir ejaculation 2 years ago

    I dugg some of you post as I thought they were handy very useful

  23. http://drukuv.cf 2 years ago

    I really appreciate this post. I’ve been looking everywhere for this! Thank goodness I found it on Bing. You have made my day! Thanks again!

  24. http://drukuv.cf 2 years ago

    Hello my friend! I want to say that this article is amazing, great written and include approximately all vital infos. I would like to see more posts like this.

  25. erectiepillen kopen 2 years ago

    I really like your writing style, good information, thank you for putting up :D. “God save me from my friends. I can protect myself from my enemies.” by Claude Louis Hector de Villars.

  26. erectie verbeteren 2 years ago

    Very interesting topic , thankyou for putting up. “It is much easier to try one’s hand at many things than to concentrate one’s powers on one thing.” by Quintilian.

  27. Enjoyed looking at this, very good stuff, thanks . “I will do my best. That is all I can do. I ask for your help-and God’s.” by Lyndon B. Johnson.

  28. I gotta bookmark this site it seems very useful extremely helpful

  29. I really like your writing style, great info, thank you for posting :D. “Kennedy cooked the soup that Johnson had to eat.” by Konrad Adenauer.

  30. I have been absent for some time, but now I remember why I used to love this site. Thank you, I’ll try and check back more frequently. How frequently you update your web site?

  31. You could definitely see your enthusiasm in the work you write. The world hopes for more passionate writers such as you who are not afraid to mention how they believe. At all times go after your heart. “Man is the measure of all things.” by Protagoras.

  32. Generally I do not learn article on blogs, but I wish to say that this write-up very compelled me to try and do it! Your writing taste has been amazed me. Thanks, very great post.

  33. You actually make it seem so easy with your presentation but I find this matter to be actually something that I think I would never understand. It seems too complex and extremely broad for me. I’m looking forward for your next post, I will try to get the hang of it!

  34. Hello, I enjoy reading all of your article. I like to write a little comment to support you.

  35. I went over this site and I think you have a lot of wonderful info, saved to bookmarks (:.

  36. Someone essentially help to make critically posts I might state. This is the first time I frequented your web page and to this point? I amazed with the research you made to create this particular put up amazing. Fantastic activity!

  37. obróbka metali 2 years ago

    Dead indited content, appreciate it for entropy. “Life is God’s novel. Let him write it.” by Isaac Bashevis Singer.

  38. I have been absent for some time, but now I remember why I used to love this web site. Thanks, I’ll try and check back more often. How frequently you update your web site?

  39. My brother recommended I might like this website. He was totally right. This post actually made my day. You can not imagine simply how much time I had spent for this info! Thanks!

  40. Only wanna input that you have a very decent website , I enjoy the pattern it actually stands out.

  41. Somebody necessarily help to make seriously articles I’d state. That is the first time I frequented your website page and to this point? I surprised with the analysis you made to make this particular publish incredible. Excellent activity!

  42. I went over this site and I believe you have a lot of superb info, bookmarked (:.

  43. Only wanna comment that you have a very nice website , I enjoy the style it actually stands out.

  44. But wanna input that you have a very decent site, I like the style and design it actually stands out.

  45. Enjoyed looking through this, very good stuff, thanks . “A man may learn wisdom even from a foe.” by Aristophanes.

  46. I dugg some of you post as I cerebrated they were extremely helpful handy

  47. Merely wanna remark on few general things, The website style and design is perfect, the written content is very fantastic. “War is much too serious a matter to be entrusted to the military.” by Georges Clemenceau.

  48. You have remarked very interesting details ! ps decent site. “The world is dying for want, not of good preaching, but of good hearing.” by George Dana Boardman.

  49. ray ban outlet 2 years ago

    I’m still learning from you, as I’m making my way to the top as well. I definitely liked reading all that is posted on your site.Keep the tips coming. I liked it!

  50. More hints 2 years ago

    I simply want to say I am new to blogging and site-building and definitely loved your web site. Very likely I’m likely to bookmark your blog post . You surely come with very good articles and reviews. Regards for sharing with us your web-site.

  51. Wow! This can be one particular of the most useful blogs We’ve ever arrive across on this subject. Basically Wonderful. I’m also a specialist in this topic so I can understand your effort.

  52. Thank you, I’ve recently been looking for information approximately this topic for ages and yours is the best I’ve discovered till now. But, what in regards to the conclusion? Are you positive about the supply?

  53. I just wanted to thank you a lot more for the amazing blog you have designed here. It really is full of ideas for those who are seriously interested in this kind of subject, specifically this very post. You’re really all really sweet along with thoughtful of others in addition to the fact that reading the blog posts is a superb delight if you ask me. And that of a generous reward! Jeff and I will certainly have fun making use of your suggestions in what we need to do in a few weeks. Our listing is a distance long and simply put tips is going to be put to beneficial use.

  54. crork 2 years ago

    nUVijI Thank you ever so for you blog article.Really looking forward to read more. Cool.

  55. As soon as I discovered this web site I went on reddit to share some of the love with them.

  56. Wow! This can be one particular of the most useful blogs We’ve ever arrive across on this subject. Actually Excellent. I am also a specialist in this topic so I can understand your effort.

  57. http://sitewire.eu/ 2 years ago

    My husband and i have been quite fortunate when Albert could deal with his inquiry through the entire ideas he gained through your web site. It is now and again perplexing to just find yourself handing out helpful hints which usually other folks have been selling. So we discover we have got the blog owner to give thanks to for that. The entire illustrations you have made, the simple blog navigation, the relationships you assist to foster – it is all terrific, and it is helping our son and our family recognize that the subject matter is thrilling, which is certainly really essential. Thank you for the whole thing!

  58. http://sitewire.eu/ 2 years ago

    Some genuinely select posts on this site, saved to favorites .

  59. http://lib-tech.cf 2 years ago

    It is actually a nice and useful piece of info. I am glad that you shared this useful info with us. Please keep us up to date like this. Thanks for sharing.

  60. Great blog here! Also your website loads up fast! What host are you using? Can I get your affiliate link to your host? I wish my web site loaded up as fast as yours lol

  61. Hi, Neat post. There’s a problem with your website in internet explorer, may check this… IE nonetheless is the market leader and a huge part of people will leave out your excellent writing due to this problem.

  62. Absolutely composed subject material , regards for entropy.

  63. of course like your web-site however you need to test the spelling on quite a few of your posts. Many of them are rife with spelling problems and I in finding it very troublesome to tell the reality however I will certainly come back again.

  64. I do agree with all the concepts you’ve introduced on your post. They are really convincing and can definitely work. Still, the posts are very quick for beginners. May just you please extend them a little from next time? Thank you for the post.

  65. I will immediately grab your rss feed as I can not to find your e-mail subscription link or e-newsletter service. Do you have any? Please allow me realize so that I could subscribe. Thanks.

  66. adwokat w gliwicach 2 years ago

    I’m really impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you customize it yourself? Either way keep up the nice quality writing, it’s rare to see a nice blog like this one these days..

  67. Pretty section of content. I just stumbled upon your site and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Anyway I’ll be subscribing to your feeds and even I achievement you access consistently fast.

  68. certainly like your website however you need to test the spelling on quite a few of your posts. A number of them are rife with spelling issues and I find it very bothersome to inform the truth on the other hand I’ll definitely come again again.

  69. I loved as much as you will receive carried out right here. The sketch is attractive, your authored material stylish. nonetheless, you command get bought an edginess over that you wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly very often inside case you shield this hike.

  70. http://fr.sitewire.eu 2 years ago

    I got what you mean , regards for posting .Woh I am delighted to find this website through google. “Success is dependent on effort.” by Sophocles.

  71. I do trust all the ideas you have presented in your post. They’re very convincing and will certainly work. Nonetheless, the posts are too short for novices. May you please prolong them a bit from next time? Thanks for the post.

  72. Hello, Neat post. There is an issue together with your web site in web explorer, could test this… IE nonetheless is the market chief and a big component to other folks will pass over your magnificent writing because of this problem.

  73. I’ve learn a few excellent stuff here. Certainly price bookmarking for revisiting. I surprise how much attempt you set to make this type of wonderful informative site.

  74. http://sitewire.eu/ 2 years ago

    I have recently started a website, the info you offer on this website has helped me tremendously. Thanks for all of your time & work.

  75. You have noted very interesting points ! ps nice site. “Justice is the truth in action.” by Jeseph Joubert.

  76. Someone essentially help to make critically articles I might state. This is the first time I frequented your web page and so far? I surprised with the analysis you made to make this actual put up incredible. Excellent process!

  77. http://sitewire.eu/ 2 years ago

    Keep up the superb piece of work, I read few articles on this website and I believe that your site is rattling interesting and has got circles of excellent information.

  78. I genuinely enjoy studying on this site, it has fantastic content . “It is easy to be nice, even to an enemy – from lack of character.” by Dag Hammarskjld.

  79. try here 2 years ago

    I simply want to tell you that I am just beginner to blogging and site-building and honestly savored you’re blog site. Likely I’m want to bookmark your blog . You really come with exceptional article content. Thanks a bunch for sharing your website.

  80. What i do not realize is if truth be told how you’re no longer really much more well-appreciated than you may be right now. You’re so intelligent. You already know thus considerably relating to this topic, produced me for my part believe it from a lot of varied angles. Its like women and men aren’t fascinated until it is something to accomplish with Lady gaga! Your individual stuffs great. Always care for it up!

  81. Good write-up, I am regular visitor of one’s website, maintain up the excellent operate, and It’s going to be a regular visitor for a lengthy time.

  82. You have observed very interesting points ! ps nice website . “Do not quench your inspiration and your inmagination do not become the slave of your model.” by Vincent Van Gogh.

  83. organizacja imprez 2 years ago

    I have recently started a web site, the info you offer on this site has helped me tremendously. Thanks for all of your time & work. “A creative man is motivated by the desire to achieve, not by the desire to beat others.” by Ayn Rand.

  84. That is a good tip especially to those new to the blogosphere. Short but very accurate information… Thank you for sharing this one. A must read post!|

  85. I am sure this paragraph has touched all the internet viewers, its really really fastidious article on building up new webpage.|

  86. Author
    Taxi Sankt Anton 1 year ago

    Taxi Sankt Anton

    […]we came across a cool web-site that you simply could enjoy. Take a search should you want[…]

  87. Author

    receive sms online virtual number

    […]just beneath, are various entirely not connected sites to ours, having said that, they are surely worth going over[…]

  88. Google 1 year ago

    Wonderful story, reckoned we could combine a few unrelated information, nevertheless really worth taking a appear, whoa did a single understand about Mid East has got a lot more problerms as well.

  89. Google 1 year ago

    Please visit the web sites we stick to, like this one, because it represents our picks in the web.

  90. AdolphEHatke 1 year ago

    Magnificent goods from you, man. I have consider your stuff ahead of
    and you are just extremely wonderful. I really like what
    you might have obtained here, really like what you’re stating and the simplest way during which you say it.
    You make it entertaining and you will still deal with to stay it wise.
    I cant wait to learn far more on your part. Which is really a great site.

    Here is my web site AdolphEHatke

  91. Author
    DR Jaydani 1 year ago

    DR Jaydani

    […]we like to honor quite a few other world wide web web-sites around the internet, even though they arenÂ’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  92. LamontMDelap 1 year ago

    Great write-up. I absolutely love this site. Thanks!

    Here is my weblog – LamontMDelap

  93. I simply want to tell you that I’m new to blogging and site-building and really liked you’re blog. Likely I’m planning to bookmark your blog post . You definitely come with really good writings. Kudos for revealing your web-site.

  94. Google 1 year ago

    Below youll locate the link to some internet sites that we think you should visit.

  95. Google 1 year ago

    We like to honor numerous other net web pages on the web, even when they arent linked to us, by linking to them. Under are some webpages really worth checking out.

  96. Author
    BSM50GB170DN2 1 year ago

    BSM50GB170DN2

    […]always a huge fan of linking to bloggers that I really like but donÂ’t get a whole lot of link appreciate from[…]

  97. Author

    life insurance lawyer

    […]Wonderful story, reckoned we could combine several unrelated information, nonetheless really worth taking a look, whoa did a single understand about Mid East has got additional problerms also […]

  98. Google 1 year ago

    Check below, are some totally unrelated sites to ours, nonetheless, they may be most trustworthy sources that we use.

  99. Author
    Funny videos 1 year ago

    Funny videos

    […]just beneath, are a lot of entirely not associated web-sites to ours, nonetheless, they’re certainly worth going over[…]

  100. ArronRLeezer 1 year ago

    you are in reality a good webmaster. The website loading velocity is
    amazing. It sort of feels that you are doing any unique trick.
    Furthermore, The contents are masterpiece. you have performed a magnificent task on this matter!

    Look into my web page; ArronRLeezer

  101. Author
    Young Vic theatre 1 year ago

    Young Vic theatre

    […]just beneath, are many totally not associated internet sites to ours, having said that, they’re certainly worth going over[…]

  102. Google 1 year ago

    Wonderful story, reckoned we could combine a few unrelated data, nevertheless actually worth taking a look, whoa did one particular master about Mid East has got a lot more problerms too.

  103. Google 1 year ago

    Wonderful story, reckoned we could combine a couple of unrelated data, nonetheless truly worth taking a appear, whoa did a single find out about Mid East has got far more problerms at the same time.

  104. I gotta bookmark this internet site it seems invaluable very helpful

  105. Utterly indited content , thankyou for information .

  106. Author
    افلام 1 year ago

    افلام

    […]Here is a great Weblog You may Find Interesting that we Encourage You[…]

  107. Simon Badillo 1 year ago

    “Hello there! Do you use Twitter? I’d like to follow you if that would be ok. I’m definitely enjoying_ your blog and look forward to new posts.”

  108. Author
    flash light torch 1 year ago

    flash light torch

    […]please check out the web pages we adhere to, such as this a single, as it represents our picks from the web[…]

  109. Google 1 year ago

    Below you will come across the link to some websites that we consider you should visit.

  110. Author
    Kalyan matka 1 year ago

    Kalyan matka

    […]always a major fan of linking to bloggers that I like but donÂ’t get lots of link appreciate from[…]

  111. I wish to express my appreciation to this writer for rescuing me from this particular matter. Because of surfing around throughout the world-wide-web and finding things which are not pleasant, I figured my life was gone. Living without the presence of solutions to the issues you’ve fixed by means of this website is a crucial case, as well as those which could have adversely damaged my career if I hadn’t noticed your blog post. Your knowledge and kindness in maneuvering every item was precious. I don’t know what I would have done if I hadn’t come across such a solution like this. I’m able to at this moment look forward to my future. Thanks a lot very much for your specialized and result oriented guide. I won’t be reluctant to refer the sites to anybody who requires support on this problem.

  112. I haven’t checked in here for some time because I thought it was getting boring, but the last few posts are good quality so I guess I’ll add you back to my daily bloglist. You deserve it my friend 🙂

  113. Google 1 year ago

    Very handful of internet sites that take place to be detailed beneath, from our point of view are undoubtedly very well worth checking out.

  114. Thanks for helping out, wonderful information. “The surest way to be deceived is to think oneself cleverer than the others.” by La Rochefoucauld.

  115. I like this post, enjoyed this one thank you for putting up. “I would sooner fail than not be among the greatest.” by John Keats.

  116. Google 1 year ago

    Please pay a visit to the web sites we follow, which includes this one particular, because it represents our picks through the web.

  117. Author
    Turen 1 year ago

    Turen

    […]although websites we backlink to below are considerably not connected to ours, we really feel they’re truly worth a go via, so have a look[…]

  118. Hello friend
    Your post is so helpful,it give me much help,thanks a lot!

  119. Some genuinely nice and utilitarian info on this internet site, too I think the layout holds excellent features.

  120. I have recently started a web site, the information you provide on this web site has helped me tremendously. Thank you for all of your time & work. “If you would know strength and patience, welcome the company of trees.” by Hal Borland.

  121. Google 1 year ago

    The time to study or take a look at the content or internet sites we’ve linked to beneath.

  122. seo plugin 1 year ago

    Hello Web Admin, I noticed that your On-Page SEO is is missing a few factors, for one you do not use all three H tags in your post, also I notice that you are not using bold or italics properly in your SEO optimization. On-Page SEO means more now than ever since the new Google update: Panda. No longer are backlinks and simply pinging or sending out a RSS feed the key to getting Google PageRank or Alexa Rankings, You now NEED On-Page SEO. So what is good On-Page SEO?First your keyword must appear in the title.Then it must appear in the URL.You have to optimize your keyword and make sure that it has a nice keyword density of 3-5% in your article with relevant LSI (Latent Semantic Indexing). Then you should spread all H1,H2,H3 tags in your article.Your Keyword should appear in your first paragraph and in the last sentence of the page. You should have relevant usage of Bold and italics of your keyword.There should be one internal link to a page on your blog and you should have one image with an alt tag that has your keyword….wait there’s even more Now what if i told you there was a simple WordPress plugin that does all the On-Page SEO, and automatically for you? That’s right AUTOMATICALLY, just watch this 4minute video for more information at. Seo Plugin

  123. Author
    small glass jars 1 year ago

    small glass jars

    […]Here is a superb Blog You may Discover Exciting that we Encourage You[…]

  124. Google 1 year ago

    We came across a cool web site that you simply might take pleasure in. Take a appear in case you want.

  125. Google 1 year ago

    Wonderful story, reckoned we could combine a handful of unrelated information, nonetheless genuinely really worth taking a search, whoa did one study about Mid East has got additional problerms at the same time.

  126. Google 1 year ago

    We came across a cool web page that you just might love. Take a appear if you want.

  127. Google 1 year ago

    Wonderful story, reckoned we could combine several unrelated information, nonetheless seriously worth taking a look, whoa did one learn about Mid East has got extra problerms also.

  128. just click 1 year ago

    I gotta bookmark this website it seems extremely helpful handy

  129. Look into 1 year ago

    I as well as my pals were found to be reading the great tactics on your site then instantly I got an awful suspicion I had not thanked you for them. These men became absolutely warmed to see them and have definitely been having fun with these things. Appreciate your actually being really helpful and for having some great guides millions of individuals are really wanting to be aware of. My personal honest regret for not expressing appreciation to you sooner.

  130. Author

    pittsburgh web design

    […]although sites we backlink to below are considerably not connected to ours, we really feel they’re actually really worth a go by means of, so have a look[…]

Leave a reply

Your email address will not be published. Required fields are marked *

*

Log in with your credentials

Forgot your details?