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of <h1>Registered taxpayers can claim input tax credit if conditions met, with time limits and 180-day reversal rules.</h1> Registered persons may claim input tax credit (ITC) for tax paid on supplies used in their business, subject to prescribed conditions and crediting to their electronic ledger. ITC is allowable only if the recipient holds required tax documents, the supplier has furnished invoice details to the recipient, the goods/services have been received (including deemed receipt cases), the supplier's communication of ITC details is not restricted, tax on the supply has been paid to the government, and the recipient has filed the prescribed return. Special time limits apply for claiming ITC, exceptions for depreciation on tax component of capital goods, and reversal/payment obligations where the recipient fails to pay the supplier within 180 days.
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