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What is the procedure for adjusting input tax paid against the output tax payable?

April 26, 2017adjusting input output paid Payable procedure tax

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What is the procedure for adjusting input tax paid against the output tax payable?

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In the return filed for the Tax Period there will be a column for input tax credit, which will have to be filled in. The tax invoices in support of the claim of input tax credit will have to be preserved and may have to be shown, if so desired by the Department.