Input Tax Credit on Capital Goods

By |2021-11-11T06:47:24+00:00October 10th, 2021|Categories: General|Tags: , , , , , , , , , |

  The goods and service tax (GST)  introduced a new concept of Input Tax Credit capital goods which is similar to that of VAT but with an important difference that the former will allow a set-off only on output rather than on both import and exports as in case of VAT. This would bring an inconsistency between [...]