Why Is Input Tax Credit Denied Under GST, and What Can a Business Do?

Introduction When Input Tax Credit is denied under GST, a business loses money it had already counted on. Consider a trader who buys goods worth ₹10 lakh and pays ₹1.8 lakh as GST to the supplier. The trader claims this as ITC and uses it to pay output tax. A year later, an ITC denial…

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