Check sibling questions

If Tax on Purchase and Expenses (called Input GST)

is more than

Tax on Sales (called Output GST)

Difference is called

GST Credit

what is GST Credit.jpg




GST Credit is also calculated in positive 

Hence we use formula 


instead of




What is GST Credit Purchase 40000 IGST 2000 Total 42000 INPUT GST 2000 OUTPUT GST 1500 INPUT GST 2000 Gst on Purchase is called Input GST Sales 30000 IGST 1500 Total 31500 OUTPUT GST 1500 Gst on Sales is called Output GST GST Payable =0 GST Payable=Output-Input GST Credit=500 GST Credit=Input-Output

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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.