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of <h1>Karnataka GST Act: Input Tax Credit Conditions Include Tax Invoice, Goods Receipt, Timely Payments, and Return Filing.</h1> Every registered person under the Karnataka Goods and Services Tax Act, 2017 is entitled to input tax credit on goods or services used for business, credited to their electronic ledger. Conditions include possession of a tax invoice, receipt of goods or services, payment of tax to the government, and filing of returns. Credit is not allowed if depreciation on tax components is claimed under the Income-tax Act. Credit cannot be claimed for invoices after the September return due date following the financial year. Non-payment to suppliers within 180 days results in reversing the credit with interest.
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