[amp_mcq option1=”Any Tax liability” option2=”Self Assessed output Tax liability” option3=”Interest and Penalty” option4=”Fine” correct=”option1″]<\/p>\n
The correct answer is: A. Any Tax liability.<\/p>\n
Provisional input tax credit can be utilized against any tax liability, including self-assessed output tax liability, interest, and penalty.<\/p>\n
Input tax credit is a tax credit that is available to businesses that purchase goods or services that are used in the course of their business. The input tax credit can be used to offset the output tax that is payable on the sale of goods or services.<\/p>\n
Provisional input tax credit is an input tax credit that is available to businesses that have not yet filed their annual return. The provisional input tax credit is calculated based on the estimated output tax that the business expects to pay for the year.<\/p>\n
The provisional input tax credit can be used to offset the output tax that is payable on the sale of goods or services. The provisional input tax credit can also be used to offset the interest and penalty that is payable on late-filed returns.<\/p>\n
The provisional input tax credit is a valuable tool that can help businesses to manage their cash flow. The provisional input tax credit can also help businesses to avoid late-filing penalties.<\/p>\n
Here is a brief explanation of each option:<\/p>\n
[amp_mcq option1=”Any Tax liability” option2=”Self Assessed output Tax liability” option3=”Interest and Penalty” option4=”Fine” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[969],"tags":[],"class_list":["post-58600","post","type-post","status-publish","format-standard","hentry","category-gst","no-featured-image-padding"],"yoast_head":"\n