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of <h1>Government Clarifies Input Tax Credit Rules for Ex-Works Contracts Under Section 16 of GST Act</h1> A government circular clarifies input tax credit (ITC) availability for goods delivered under Ex-Works contracts. The circular interprets section 16 of the Central Goods and Services Tax Act, 2017, stating that goods are considered 'received' when handed over to a transporter at the supplier's factory gate, even if physically received later. This applies to automobile and other sectors with similar contractual arrangements, subject to the goods being used for business purposes and meeting other statutory conditions.
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