Can GVAT Item Denials Lead to Multiple Tax Credit Reductions? Examining 8% Deduction Impact on Entitlements.

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....GVAT - whether if a particular item falls in more than one of these sub-clauses, denial of tax credit can be applied more than once. - If such tax credit available to the respondent is reduced by eight per cent, it would bring about a situation where credit available is four per cent and what is reduced is eight per cent. - HC....