Perceptional Analysis on the Input Tax Credit under the Goods and Services Tax

Authors

  • Dipak N. Joshi Research Scholar Annasaheb Waghire Arts, Science and Commerce College, Pune
  • M. B. Khandare Annasaheb Waghire Arts, Science and Commerce College, Pune

DOI:

https://doi.org/10.33516/maj.v58i11.87-92p

Keywords:

No Keywords

Abstract

Input tax credit is the most vital facet of the present Indian goods and services tax regime. It was introduced with the objective of flawless tax credit framework by removing cascading effect of taxes and to create India as a common national market (1). Despite the passage of a half-decade of the GST implementation in the country, there are still numerous issues with input tax credit (ITC). The present study was carried out for the purpose of examining tax facilitators’ perceptions of the perceived attributes of the ITC in order to arrive at certain pertinent suggestions. The study used a simple random sampling procedure to select the 111 sample respondents and their responses were gathered using a well-designed questionnaire. The data gathered was analysed by a one-way ANOVA statistical method and the study revealed that the perceptions of tax facilitators about the perceived attributes of input tax credit, are not significantly different.

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Published

2024-03-15

How to Cite

Joshi, D. N., & Khandare, M. B. (2024). Perceptional Analysis on the Input Tax Credit under the Goods and Services Tax. The Management Accountant Journal, 58(11), 87–92. https://doi.org/10.33516/maj.v58i11.87-92p

References

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GOI [1977], Report of Indirect Taxation Committee (October 1977 & January 1978] Retrieved from India Culture: https:// indianculture.gov.in/reports-proceedings/ report-indirect-taxation-enquiry-committee-pt-i

MODVAT [1986] Notification 176/66 dt. 1st March 1986 [Section AA]

GOI [2001]. Union Budget, 2000-01, para 87 5. The CENVAT Credit Rules, 2002 and The CENVAT Credit Rules, 2004

Central Goods and Services Tax 2017 (No 12 of 2017), Section 16,Eligibility and condition for taking input tax credit, Retrieved from Central Board of Indirect Taxes and Customs: https://taxinformation.cbic.gov.in/ content-page/explore-act7]

Central Goods and Services Tax 2017 (No 12 of 2017), Section 17,Apportionment of credit and blocked credits, Retrieved from Central Board of Indirect Taxes and Customs: https://taxinformation.cbic.gov.in/ content-page/explore-act7]

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