input tax definition

input tax. , in relation to a vendor, means—

input tax means the GST incurred on any purchase or acquisition of goods and services by a taxable person for the purpose of making a taxable supply in the course or furtherance of business.

input tax means the tax paid or payable under this Act by a registered dealer to another registered dealer on the purchase of goods in Tripura in the course of business for resale or for the manufacture of taxable goods or for use as containers or packing material or for the execution of works contract;

Examples of input tax in a sentence

• Tenderers will ensure that full benefit of Input Tax Credit (ITC) likely to be availed by them is duly considered while quoting rates.

• For the avoidance of doubt, Input Tax Credits already availed of or utilised by the Transferor Company and the Transferee Company in respect of inter se transactions shall not be adversely impacted by the cancellation of inter se transactions pursuant to this Scheme.

• However, while quoting the rates benefit of Input Tax Credit or Exemptions shall be passed on to the BMC by way of equivalent reduction in quoted price.

• Since GST qualifies for Input Tax Credit, Agency should separately quote GST component.

• The bidder also declares that in case bidder is blacklisted by GST Authorities in future & which results in loss of Input Tax Credit (ITC) to BSNL, then BSNL shall have right to recover any such loss of ITC arising on account of such black-listing.

More Definitions of input tax

input tax means tax charged under this Act by a registered dealer to another registered dealer on purchases of goods in the course of business;

input tax means the tax paid or payable in respect of a taxable supply to or an import of goods or services by a taxable person;

input tax means VAT paid or payable in respect of a taxable supply to, or an import of goods by, a taxable person;

input tax means the value-added tax paid by a VAT-registered person in the course of his trade or business on importation of goods or local purchases of goods or services from a VAT-registered person. It shall also include the transitional input tax determined in accordance with Section 105 of this Code and other transitional input taxes as prescribed by regulations.

input tax. , in relation to a taxpayer, means the VAT charged on the supply to him of any goods or services and the VAT paid or payable by him on the importation of any goods, being (in both cases) goods or services used or to be used for the purpose of any business carried on by him.

input tax means tax paid or payable by a registered dealer in the course of business, on the purchase of any goods made from a registered dealer;

input tax means something in relation to the turnover tax in the home country that would correspond, in relation to GST, to input tax in Jersey.