Overview Of ITC Claim In Marg Software

Process To View ITC Claim Report In Marg Software

OVERVIEW OF ITC CLAIM IN MARG SOFTWARE

• Input Tax Credit (ITC) refers to the credit that a business can claim for the taxes it has paid on its purchases of goods or services. This credit is usually claimed against the taxes the business owes on its sales.
• Businesses are allowed to reduce their tax liability by the amount of tax paid on inputs (purchases) from the total tax collected on outputs (sales).

PROCESS TO VIEW ITC CLAIM REPORT IN MARG SOFTWARE

• Go to GST > GSTR 2A-2B Reconciliation.

• A 'GSTR 2A-2B Menu' window will appear.
• Click on 'ITC Claim Report'.

• In 'Month' option, the user will select the month for which the report needs to be viewed.
• Suppose select 'Dec 2023'.

b. From: Mention the date from which the report needs to be viewed.

c. To: Mention the date upto which the report needs to be viewed.

d. ITC Amount: Mention the amount for which the report needs to be viewed.

Now the user will click on 'View/Print/GUI View/GUI Print/Excel' as per the requirement.

Suppose select 'View'.

After following the above steps, the user can view ITC Claim report will get generate in Marg Software.