Dear All
We are following the procedure as laid down in Rule 4 Cenvat Credit Rules, 2004 at the time of availing Cenvat credit on input, capital goods and service.
What will the conditions for availing ITC on inward supply under GST era?
- Whether on receipt of inward supply
- Receipt of invoice/Challan
- Making Payment to the supplier
Clarification Sought on Availing Input Tax Credit Under GST: Conditions Depend on Supplier's Output Tax Payment A discussion on a forum addressed the conditions for availing Input Tax Credit (ITC) on inward supplies under the Goods and Services Tax (GST) regime. The initial query focused on whether ITC could be availed upon receipt of goods, invoice, or payment to the supplier. Respondents clarified that ITC depends on whether the supplier has paid the output tax. They emphasized that the provisions were still in draft form, and changes could occur before the draft becomes an official act. Participants advised waiting for the final enactment before drawing conclusions. (AI Summary)
Goods and Services Tax - GST
TaxTMI 
TaxTMI 
TaxTMI 
