Call +91 98160 02197 +91 94648 35708  Email

Input Tax Credit under GST

Input Tax Credit under GST is a credit which is available to supplier to set off the tax he has paid on purchase of goods from output tax on sale of such goods. Hence, the tax will levy on the value added which results in avoiding double taxation.

Input Tax in relation to a taxable person, means the tax charged on any supply of goods and/or services to him which are used in the course or furtherance of his business, but does not include the tax paid under the Composition levy.

Requirements for Input Tax Credit under GST

  • GST Tax Invoice

It is one of the most essential item for input tax credit. A GST Tax Invoice shall be retained whenever an input tax is paid.

  • Receive the Goods & Services

Whenever a tax credit refund is claimed, the goods and services on which it is claimed shall have to be received. In order to process the refund of input tax credit under GST, a proof of this will be required . A proof of actual tax paid by the dealer or supplier to the government shall also be required. The refund of input tax credit under GST cannot be claimed if the GST has not been paid or the proof has not been retained.

  • Furnishing of GST Return

It is compulsory for every GST taxpayer to file the returns to the concerned GST authorities. Therefore, to apply for GST input tax credit, a copy of GST Return is necessary. The details of the transactions shall also be included in the returns furnished so that they can be easily verified and checked with respect to the authenticity of the input tax credit paid to the dealer of the specified goods and (or) services.

In case you are still confused about GST as a business owner, feel free to get FREE consultancy from us at +91 98160 02197. You can even get comprehensive assistance on GST Registration and GST Return Filing. We use our authenticated GST software for doing end-to-end GST compliance. Check our GST Compliance Pricing Plan

     Invest Online-NSE

NSE has developed an online platform MFSS. This is a transactional online platform which facilitates you invest as lump sum, redemption, Systematic Investment Plan (SIP), Systematic Withdrawal Plan (SWP), Systematic Transfer Plan (STP), Switch and other transactions of mutual fund units under the strictly guidance of your adviser.






Register now!                                   Check Demo                           

  Online Portfolio View


Convenience is just a click away! We offer a host of services to manage your mutual funds and other investments. You can now integrated consolidate online portfolio view of all your holdings in all Funds serviced by us in one single window through our Wealth Magic Portfolio Online.  










Check it out!


I am very happy and greatly satisfied with the PrudentFP Financial Planning services as they are giving to me
Deepak Tiwari, Panchkula (HR)
Suresh has always been thoughtful and insightful with regard to my needs, rather than his own. His investment suggestions have been sensible and fair. He has demonstrated sound and conservative financial ability.
Parveen Sharma, Bilaspur (HP)
Suresh is truly what I will call you as Financial Doctors/True Certified Financial Planners looking after my financial health. I fully recommend his name to whosoever who wants to come to them for getting their financial planning done.
Parvesh Bansal(NRI), Mandi Gobindgarh (Punjab)
I would unequivocally recommend Suresh’s services to anyone who cares about his financial health. The very reasonable fee that Suresh charges for his services are well worth the results.
Suresh Kumar, Sirhoi (Raj)
Suresh’s monthly cash flow management calculations and the consequent recommendations take into account all the requirements of a family and offer complete clarity as to the way forward.
Vishal Kakar, Panchkula (HR)
Prudent Financial Planners gave me a totally different perspective about money and how you can make your money work for you. I got to know about term plans and health insurance and other modes of investments.
Amit Goyal, Panchkula (HR)
Suresh has been advising me on my financial affairs since long time. I have already been burnt my fingers in stock market and then, Suresh had realized and brain stormed me about my investment plan.
Kulbhushan Jamwal, Distt Kangra (HP)
Your articles are really fabulous; I am your great fan. Sir I want my son to become great person like you
R.K. Mulchandani, Through e-mail



Certifications & Members

Media & Associates


CFPCM , CERTIFIED FINANCIAL PLANNERCM, and are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planning Standards Board India is the marks licensing authority for the CFPCM marks in India, through agreement with FPSB.