Input tax credit entitlement subject to possession of required tax invoice and fulfillment of payment and return conditions. Eligibility for input tax credit requires that the registered person use supplies in the course of business, possess a tax invoice or prescribed document from a registered supplier, have received the goods or services (including deemed receipt), have the tax actually paid to Government either in cash or by utilization of credit (subject to section 41), and have furnished the return under section 39; temporal limits, depreciation adjustments on capital goods, instalment receipt rules, and payment-failure consequences further regulate entitlement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Input tax credit entitlement subject to possession of required tax invoice and fulfillment of payment and return conditions.
Eligibility for input tax credit requires that the registered person use supplies in the course of business, possess a tax invoice or prescribed document from a registered supplier, have received the goods or services (including deemed receipt), have the tax actually paid to Government either in cash or by utilization of credit (subject to section 41), and have furnished the return under section 39; temporal limits, depreciation adjustments on capital goods, instalment receipt rules, and payment-failure consequences further regulate entitlement.
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