Input Tax Credit definition

Input Tax Credit means the credit of input tax;

Input Tax Credit has the meaning given by the GST Law and a reference to an Input Tax Credit entitlement of a party includes an Input Tax Credit for an acquisition made by that party but to which another member of the same GST Group is entitled under the GST Law. Taxable Supply has the meaning given by the GST Law excluding (except where expressly agreed otherwise) a supply in respect of which the supplier chooses to apply the Margin Scheme in working out the amount of GST on that supply.

Input Tax Credit has the meaning given to that term by the GST Law.

Examples of Input Tax Credit in a sentence

• Further, it is the responsibility of the bidders to make all possible efforts to make their accounting / IT system GST compliant in order to ensure availability of Input Tax Credit (ITC) to Oil India Ltd.

• Input Tax Credit, reduction in Tax Rate on inputs as well as final goods by way of reduction of price as contemplated in the provision relating to Anti-Profiteering Measure vide Section 171 of the CGST Act, 2017.

• In case of successful bidder(s), if at the time of supply, it is found that Input Tax Credit Invoice (Credit available to BCCL on this account) is less than the “Input Tax Credit Amount‟ declared in the Price Bid, the differential amount between the two shall be recovered from the Supplier.

• The prices quoted should be net of Input Tax Credit of bidder.Safe arrival of materials up to destination shall be the responsibility of the supplier.

• If either party is entitled under this agreement to be reimbursed or indemnified by the other party for a cost or expense incurred in connection with this agreement, the reimbursement or indemnity payment will not include any GST component of the cost or expense for which an Input Tax Credit may be claimed by the party entitled to be reimbursed or indemnified.

More Definitions of Input Tax Credit

Input Tax Credit means the input tax claimable by a registered person.

Input Tax Credit has the meaning given in section 195-1 of the GST Act. 'Inspector' means a person appointed as such under the WHS Act. ‘Instance’ means the provision of Program Services to a Participant receiving Flexible Ongoing Support, in accordance with any Guidelines. ‘Intellectual Property Rights’ includes: all copyright (including rights in relation to phonograms and broadcasts); all rights in relation to inventions (including patent rights), plant varieties, trademarks (including service marks), designs, circuit layouts; and all other rights resulting from intellectual activity in the industrial, scientific, literary or artistic fields, but does not include: Moral Rights; the non-proprietary rights of performers; or rights in relation to confidential information.

Input Tax Credit means credit of ‘input tax’ as defined in section 2(56);

Input Tax Credit means credit of ‘input tax’ as defined in sub-section (55);

Input Tax Credit means the amount You are entitled to claim as a credit against GST that You have paid.

Input Tax Credit has the meaning given in section 195-1 of the A New Tax System (Goods And Services Tax) Xxx 0000 (Cwlth);

Input Tax Credit has the meaning it has in the GST Act. A person is Insolvent if: