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READING DOWN MODEL IGST ACT (PART-3) - (Input Tax / Output Tax)

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 11-7-2016 - Input Tax [Section 2(1)(d)] Input Tax has been defined as under- 'Input tax' in relation to a taxable person, means the Integrated Goods and Services Tax, Central Goods and Services Tax or State Goods and Services Tax, as the case may be, charged on any supply of goods and/or services to him which are used, or are intended to be used, in the course or furtherance of his business and includes the tax payable und .....

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to IGST, following points are important - input tax is in relation to a taxable person. input tax means IGST, CGST or SGST input tax should have been charged on any supply of goods and /or services to such taxable person. such goods and /or services should be used or intended to be used by him such use should be in the course of or furtherance of his business. input tax would also include tax paid under section 4(3), i.e., paid under reverse charge method. Input Tax Credit [Section 2 (1)(e)] &# .....

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