This image helps us understand gst tax as a part of THe buzz stand series

GST Input Tax Credit Utilization

In our previous article of basics of GST series we have discussed that GST tax was brought in place to remove the cascading effects of indirect taxes. GST tax is an indirect tax which would replace other taxes from 30th June. It is levied on the basis of value added at each stage. Hence, at each stage there would be an output i.e. goods or services you sell on which ….