This is an academic question for my understanding.
If I have claimed Input Tax Credits in 1st year and got a refund for it the next year, do I need to exclude the tax credit while filing taxes or do I leave it like this and claim it as income the next year or do I have to do both.
Input tax credits are not income. It is a rebate of your own money, which you had already paid out.
Input tax credits are not income. It is a rebate of your own money, which you had already paid out.
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