GST ITC Calculator
Calculate your Input Tax Credit (ITC) instantly. Know exactly how much CGST, SGST, and IGST you can claim back on your business purchases.
Instant
ITC Breakdown
100%
Free & Accurate
Smart
AI Suggestions
GST Input Tax Credit Calculator
Enter tax payable and ITC credits available to calculate Input Tax Credit under IGST, CGST & SGST.
Tax Credit Summary
Calculation summary will appear here
What is Input Tax Credit (ITC)?
Input Tax Credit (ITC) is the tax that a business pays on a purchase and that it can use to reduce its tax liability when it makes a sale. In simple terms, ITC is the tax you've already paid on your business inputs, which you can deduct from the tax you collect on your outputs.
Tax Reduction
ITC directly reduces your cash tax liability, improving your business cash flow.
Avoid Cascading
It prevents "tax on tax" by allowing credit for taxes paid at each stage of the supply chain.
How to Calculate ITC?
The Formula
ITC is calculated on the taxable value of your purchases. The formula is straightforward:
For example, if you buy goods worth ₹1,00,000 at 18% GST, your ITC is ₹18,000.
Conditions to Claim ITC
Possession of Invoice
You must have a valid tax invoice or debit note issued by the supplier.
Receipt of Goods/Services
You must have actually received the goods or services.
Tax Paid by Supplier
The supplier must have actually paid the tax collected from you to the government.
Filing of Returns
You must have filed your GST returns (GSTR-3B).
Payment within 180 Days
You must pay the supplier within 180 days from the invoice date, otherwise, ITC must be reversed.
Blocked ITC (Section 17(5))
Certain purchases are not eligible for ITC even if used for business. These are called "Blocked Credits":
GSTR-2B Reconciliation
Reconciliation is the process of matching the ITC in your books with the ITC available on the GST portal (GSTR-2B). This is crucial because you can only claim ITC that is reflected in your GSTR-2B.
Frequently Asked Questions
Can I claim ITC on personal expenses?
What happens if I claim excess ITC?
Is there a time limit to claim ITC?
Can I claim ITC if the supplier has not filed GSTR-1?
Related Tools
Maximize Your ITC
Our experts can help you with GSTR-2B reconciliation and ensure you never miss out on eligible Input Tax Credit.
Get a Free Quote
Enter your details to receive a full quote and consultation
By submitting, you agree to our Terms & Privacy Policy and Data & Consent Policy.
Why Taxcom Technologies?
Expert CA/CS
Verified professionals handling your filings.
100% Accurate
Guaranteed accuracy in all calculations.
Timely Filing
Never miss a deadline with our reminders.
Optimize Your Business Taxes
Get professional assistance for GST reconciliation and maximize your ITC claims with Taxcom Technologies.