What is Input Tax Credit (ITC)?

Input Tax Credit (ITC) is the credit that a registered taxpayer can claim for the tax paid on goods or services purchased for business purposes. ITC is available when goods or services are purchased with the intention to manufacture, sell, or provide further goods or services. It allows businesses to offset the GST they have paid on inputs against their GST liability on output.

Benefits of Input Tax Credit

Reduced Tax Liability

ITC allows businesses to reduce their GST liability by claiming credit for the GST paid on purchases, ultimately reducing the total tax payable.

Improved Cash Flow

By claiming ITC, businesses can avoid paying taxes upfront on inputs and instead offset them against the tax liability on sales, improving overall cash flow.

Encourages Compliance

ITC incentivizes businesses to remain GST compliant by maintaining proper records of purchases and filing GST returns accurately.

Promotes Transparency

Since ITC can only be claimed if the supplier has paid the GST, it encourages transparency between buyers and suppliers, promoting fair business practices.

• You are registered under GST: Only registered taxpayers can claim ITC.

• Goods or services are used for business purposes: The goods or services must be used in the course of business operations.

• Tax invoice or debit note: You must have a valid tax invoice or debit note issued by the supplier.

• Goods or services received: ITC can only be claimed once the goods or services have been received by the taxpayer.

• Tax paid to the government: The supplier must have paid the GST to the government, and the same should be reflected in your GST returns (GSTR-2A/2B).

• Timely Filing of GST Returns: You must have filed your GST returns (GSTR-3B) to claim ITC for that period.

Who Can Claim Input Tax Credit?

"Maximize your Input Tax Credit and reduce your GST burden with Care Corporates' expert ITC services."

Our ITC Services

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ITC Eligibility Check

We help businesses determine which purchases are eligible for Input Tax Credit and ensure that all conditions for claiming credit are met, reducing errors and maximizing credit.

Reconciliation of ITC

Our team assists with ITC reconciliation, ensuring that the details of input tax credit in your records match those in the supplier’s GST returns. Any mismatches are identified and corrected promptly.

GST Return Filing

We ensure that your GST returns are filed accurately and on time, with the correct ITC claims, so you can reduce your tax liability and stay compliant with GST regulations.

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ITC Optimization

We review your purchases and ensure that you are claiming all eligible ITCs, helping your business save on taxes and improve cash flow

"Simplify your ITC claims and stay compliant—let Care Corporates manage your GST returns."

Accurate Filing & Reconciliation

We ensure that your ITC claims are accurate and properly reconciled with your supplier’s returns, reducing the risk of discrepancies and penalties.

Maximized ITC Claims

We review your purchases and ensure that you claim the maximum amount of ITC, reducing your overall tax burden.

Expert Guidance

Our team of GST experts helps you navigate the complexities of Input Tax Credit, ensuring that all eligible credits are claimed and all conditions are met.

Why Us ?

"Maximize your Input Tax Credit and reduce your GST liability—choose Care Corporates for expert ITC services."

Need Help with Input Tax Credit?

Let Care Corporates help you claim your Input Tax Credit accurately and on time, ensuring that your GST returns are filed with maximum credit and minimum hassle. Contact us today to schedule a consultation!

Schedule a Free Consultation today to learn more about how we can help you get started.