To calculate the average product, you need the total product. For example, the total product for a factory might be the number of widgets produced in a single day.

The meaning of ITC can be easily understood when we take the words ‘input’ and ‘tax credit into consideration’. Inputs are materials or services that a manufacturer purchases in order to ...

To calculate the input tax credit applicable, one can follow these steps: 1) Find out if you are eligible to claim an ITC. 2) Determine the percentage of use in your commercial activity.