Input tax credit provisional acceptance allows registered persons to self-credit eligible input tax for payment of output tax. A registered person, subject to prescribed conditions and restrictions, may self-assess and claim eligible input tax in the return; that claimed credit is provisionally admitted and credited to the electronic credit ledger and may be utilised only for payment of the self-assessed output tax declared in the same return.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit provisional acceptance allows registered persons to self-credit eligible input tax for payment of output tax.
A registered person, subject to prescribed conditions and restrictions, may self-assess and claim eligible input tax in the return; that claimed credit is provisionally admitted and credited to the electronic credit ledger and may be utilised only for payment of the self-assessed output tax declared in the same return.
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