- The net tax credit to which a registered dealer is entitled shall be determined by the following formula, namely:-Net tax credit=A+B+CWhereA= the amount of input tax credit the dealer is entitled to under sub-section (1) of section 11.B= outstanding credit brought forward as determined under clause (1) of section 11 from the previous period or under sub-section (2) of section 19.C= reverse tax credit as determined under section 12
