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<h1>Understanding Input Tax Credit (ITC) Rules: Key Conditions, Section 16 Claims, and Section 17(5) Restrictions.</h1> The provisions and rules regarding Input Tax Credit (ITC) under the Indian GST framework, emphasizing the importance of verifying the authenticity of ITC claimed by taxpayers. It defines ITC and related terms, details conditions under Section 16 for claiming ITC, and explains scenarios like goods received in lots, payment conditions, and time limits for claiming ITC. It also covers special circumstances for ITC availability, apportionment rules, and restrictions under Section 17(5) on certain goods and services. The document further discusses ITC distribution by Input Service Distributors (ISD) and recovery mechanisms for excess credit distribution.