https://www.taxtmi.com/article/detailed?id=7048 Section 16 empowers registered taxable persons to claim input tax credit into the electronic credit ledger subject to conditions: inputs exclude capital goods; claims on opening stock are allowed on registration or migration from composition subject to invoice age limits; ITC is restricted for partly personal or exempt use and for specified supplies (certain motor vehicles, personal/employee benefits, works contract for immovable property, composition taxed supplies, depreciation overlap). Claim preconditions include possession of prescribed tax documents, receipt of goods/services, tax deposit or admissible credit availability, and return filing; temporal limits and recovery rules apply for erroneous or excess credits. en-us Wed, 26 Oct 2016 08:23:34 +0530 Wed, 26 Oct 2016 09:39:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7048 Section 16 empowers registered taxable persons to claim input tax credit into the electronic credit ledger subject to conditions: inputs exclude capital goods; claims on opening stock are allowed on registration or migration from composition subject to invoice age limits; ITC is restricted for partly personal or exempt use and for specified supplies (certain motor vehicles, personal/employee benefits, works contract for immovable property, composition taxed supplies, depreciation overlap). Claim preconditions include possession of prescribed tax documents, receipt of goods/services, tax deposit or admissible credit availability, and return filing; temporal limits and recovery rules apply for erroneous or excess credits. Articles Goods and Services Tax - GST Wed, 26 Oct 2016 08:23:34 +0530 https://www.taxtmi.com/article/detailed?id=7048