Input Tax Credit

20:20 Mar 17, 2020
English to Russian translations [PRO]
Law/Patents - Law: Contract(s) / Input Tax Credit in India
English term or phrase: Input Tax Credit
Dear colleagues,

Please what's the Russian for "Input Tax Credit (ITC)" in India?

Context:
The Principal shall be entitled to claim Input Tax Credit (ITC) in terms of applicable law, irrespective of the fact whether the Materials and/or Capital Goods are received by the Principal and then sent to the Job Worker for assembly or whether they are directly received at the Job Worker’s place of business/premises, without being brought to the premises of the Principal. It is also clarified that the Job Worker shall also eligible to avail ITC on inputs, etc. used by it in supplying the Services to the Principal.

Thank you.
Igor Popov
Russian Federation
Local time: 14:53


Summary of answers provided
4Входящий НДС
IrinaN


Discussion entries: 3





  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
input tax credit
Входящий НДС


Explanation:
https://glavkniga.ru/situations/k500946

Входящий НДС – это тот НДС, который вам предъявляют продавцы товаров (работ, услуг, имущественных прав) и который вы, как покупатель или заказчик, оплачиваете. То есть входящий НДС появляется у тех, кто что-то приобретает у плательщиков НДС, при условии, что данные операции облагаются НДС. Также он появляется у тех, кто уплачивает налог при ввозе товаров на территорию РФ. Кстати, входящий НДС также называют входным.

https://www.investopedia.com/terms/g/gst.asp

https://www.accountingtools.com/articles/2017/5/10/input-tax
An input tax is a levy paid by a business on acquired goods and services. An example of an input tax is the value added tax. When a business then taxes its customers, this is considered an output tax.M

IrinaN
United States
Local time: 06:53
Specializes in field
Native speaker of: Native in RussianRussian
PRO pts in category: 77
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