Input tax credit Term Meaning in Real Estate - Guide

Input tax credit means reducing the taxes paid on inputs from taxes that one has to pay on output

Devika Arora

7 years ago

Published Date: May 11, 2018

Updated Date: Mar 27, 2024

Input tax credit means reducing the taxes paid on inputs from taxes that one has to pay on output.

In simple words, Input Credit means at the time of paying tax on sales, you can reduce the tax you have already paid on purchases. When any goods or services are supplied to a taxable person, the GST charged is known as Input Tax.

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