The Input Tax Credit (ITC) Tracker is an interactive tool designed to help businesses and taxpayers calculate and manage their eligible input tax credits under a Goods and Services Tax (GST) or Value Added Tax (VAT) system. This tool ensures that businesses can accurately track and claim ITC on purchases, reducing their overall tax liability. It also provides a summary of total eligible ITC, ineligible amounts, and net GST/VAT payable.

This tool is ideal for small and medium enterprises (SMEs), accountants, tax professionals, and businesses operating under GST/VAT regimes who want to ensure compliance and optimize their tax recovery.

Key Features:

1. Interactive Inputs : Users can input data such as purchase invoices, tax rates, and ineligible amounts.
2. Dynamic Calculations : Automatically calculates total eligible ITC, ineligible amounts, and net GST/VAT payable.
3. Invoice Management : Allows users to add multiple invoices and categorize them based on eligibility for ITC.
4. Scenario Simulation : Enables users to simulate changes in purchases or tax rates and observe their impact on ITC and tax liability.
5. PDF Download Option : Users can download a summary of their results, including ITC calculations and invoice details, in PDF format.
6. Modern Design : A clean, professional interface that integrates seamlessly into your WordPress Elementor HTML block.
7. Self-Contained Container : The tool stays within its own container, ensuring it doesn’t interfere with the page header or footer.

Use Cases:

• SMEs calculating and claiming input tax credits under GST/VAT systems.
• Accountants assisting clients in managing ITC claims.
• Tax professionals advising businesses on GST/VAT compliance.
• Businesses tracking and optimizing their tax recovery.

How It Works:

1. The user inputs details of purchase invoices, including invoice amount, tax rate, and eligibility for ITC.
2. The tool calculates the eligible ITC for each invoice and aggregates the total ITC across all invoices.
3. Users can categorize invoices as eligible or ineligible for ITC based on predefined rules (e.g., blocked credits).
4. The tool calculates the net GST/VAT payable after deducting eligible ITC from output tax liability.
5. Users can download a summary of the results, including ITC calculations and invoice details, as a PDF by clicking the “Download PDF” button.