Input Tax - Definition - Law Dictionary Home Dictionary Definition input-tax

Definition :

Input tax, in relation to any period, means the amount of tax--

(a) separately realised or realisable by registered dealer from a registered dealer in respect of purchases made by the latter dealer in West Bengal of taxable goods, other than such taxable goods as may be prescribed, required directly in connection with his business, or (b) paid or payable by a dealer (not being a shipper of jute) under section 11 or section 12 or section 14. [The West Bengal Value Added Tax Act, 2003, s. 2(18)]