https://www.taxtmi.com/article/detailed?id=7128 Input tax credit under the revised GST law requires a registered taxable person to claim admissible IGST/CGST/SGST credit in the electronic credit ledger subject to possession of invoice or debit note, receipt of goods or services, payment of tax by the supplier, and timely return filing; credits are apportioned where inputs are used partly for business or for exempt supplies, specific categories of goods and services are blocked from ITC, transitional and job work provisions govern special circumstances and time limits, and wrongly availed or excess distributed credits are recoverable with interest. en-us Fri, 16 Dec 2016 08:42:23 +0530 Fri, 16 Dec 2016 08:42:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7128 Input tax credit under the revised GST law requires a registered taxable person to claim admissible IGST/CGST/SGST credit in the electronic credit ledger subject to possession of invoice or debit note, receipt of goods or services, payment of tax by the supplier, and timely return filing; credits are apportioned where inputs are used partly for business or for exempt supplies, specific categories of goods and services are blocked from ITC, transitional and job work provisions govern special circumstances and time limits, and wrongly availed or excess distributed credits are recoverable with interest. Articles Goods and Services Tax - GST Fri, 16 Dec 2016 08:42:23 +0530 https://www.taxtmi.com/article/detailed?id=7128