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<h1>Input tax credit entitlement requires invoice, receipt of supply, tax payment and return filing, with reversal on payment default.</h1> Input Tax Credit is available to a registered person for supplies used in business provided they hold a tax invoice or prescribed document issued by a registered supplier, have received the goods or services (including deemed receipt), the tax on such supply has been paid to Government in cash or via permitted credit utilisation, and the return has been furnished; credit for goods received in instalments arises only on receipt of the last instalment, and failed payment to supplier within the prescribed period triggers addition of input credit back to output tax liability with interest.
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