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of <h1>Understanding ITC: Eligibility and Conditions Under Section 16 of Model GST Law Explained for Businesses</h1> Section 16 of the Model GST Law outlines the eligibility and conditions for claiming input tax credit (ITC) by registered taxable persons. ITC can be claimed on goods or services used in business, credited to the electronic ledger, but is subject to conditions such as possession of a tax invoice, receipt of goods/services, and payment of tax to the government. Specific provisions limit ITC on pipelines and telecommunication towers to staggered financial year credits. ITC is disallowed if depreciation is claimed on the tax component of capital goods. ITC claims are restricted post-September following the financial year of the invoice.
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