CREDIT MAPPING & OPTIMISATION
In terms of the indirect tax provisions (service tax, VAT and excise) a manufacturer or service provider is eligible to claim input tax credit of tax paid on goods and services. The said credit can be utilized for payment of indirect tax liability. Thus the input tax credit is akin to cash on hand which can be used for making tax payments. It is essential that a manufacturer or service provider avails all the eligible input tax credit in terms of the applicable input tax credit provisions and optimizes the same.
Credit mapping and optimisation cover the following: