Who is eligible for ITC in GST?
Businesses registered under GST in Chennai can claim Input Tax Credit (ITC) on purchases used for taxable supplies, provided they possess valid invoices and the inputs have GST paid on them. Ensuring proper documentation and compliance with GST regulations allows businesses to maximize ITC benefits while maintaining legal adherence. Properly managing ITC helps reduce tax liability and optimize cash flow, making it essential for businesses to follow GST rules diligently.