How AI-based Solutions Can Maximise Input Tax Credit and Reduce GST Cash Outflows скачать в хорошем качестве

How AI-based Solutions Can Maximise Input Tax Credit and Reduce GST Cash Outflows

In 2019, the government introduced the concept of provisional input tax credit (ITC), allowing businesses to claim 20% ITC as provisional ITC from the eligible ITC reflected in their GSTR-2A. However, this limit got capped at 5% in 2021. Soon, taxpayers may no longer be allowed to claim provisional ITC at all. This means that if a business’s suppliers don’t upload their invoices on time in the GSTR-1/IFF, then the business will not be able to claim ITC on those invoices, resulting in their GST cash outflows increasing. Further, if frequent reconciliations are not carried out between the purchase books and the GSTR-2B, businesses do not end up claiming optimal ITC. All of this impacts the working capital and profitability of an enterprise. Watch this video to find out how you can use AI-based solutions to plug ITC leakages and improve cash flows. Explore the Clear Max ITC solution here, and request a demo: https://cleartax.in/s/max-itc Here’s an exclusive gift for all our new subscribers where you subscribe to our channel. Claim gift here: https://clearbycleartax.typeform.com/... The video covers the following: 0:00 Introduction 1:18 Why do businesses suffer from input tax credit leakages? 2:40 How can the problem of input tax credit leakages be solved? 3:54 Introduction to Clear Max ITC 5:08 Demo of the Clear Max ITC solution 5:27 Closing Subscribe to get a clear explanation of finance concepts: https://www.youtube.com/cleartaxindia... → Watch next – How to Reduce Your GST Cash Outflows (   • Why Do Indian Businesses Pay More GST in C...  ) → Recommended Playlist – All about GST (https://www.youtube.com/playlist?list...) Let’s connect: IG –   / clearfromcleartax   Twitter –   / clearfromct   FB –   / clearfromcleartax   Linkedin -   / clearofficial   #gst #eInvoicing #IRN #QRcode