Taxpayers can use ITC to discharge GST dues

Taxpayers can use ITC to discharge GST dues

“Taxpayers are free to utilise the Input Tax Credit available in their credit ledger, as permissible in law, to discharge their GST dues for the month of March, 2021 – the last month of this financial year,” the Central Board of Indirect Taxes and Customs (CBIC) said in a statement.

Goods and Services Tax (GST) collections crossed the Rs 1 lakh crore mark for the fifth month in a row in February.

The Finance Ministry on Saturday said GST taxpayers can utilise the Input Tax Credit available in their credit ledger to discharge their GST dues for the month of March.

“Taxpayers are free to utilise the Input Tax Credit available in their credit ledger, as permissible in law, to discharge their GST dues for the month of March, 2021 – the last month of this financial year,” the Central Board of Indirect Taxes and Customs (CBIC) said in a statement.

Goods and Services Tax (GST) collections crossed the Rs 1 lakh crore mark for the fifth month in a row in February. The mop up in February was Rs 1.13 lakh crore.

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