https://www.taxtmi.com/acts?id=26394 Entitlement to Input Tax Credit requires prescribed conditions: possession of a tax invoice or prescribed document from a registered supplier, receipt (or deemed receipt) of goods or services, tax in respect of the supply actually paid to the Government (cash or permitted credit utilisation), and filing the prescribed return. Credit is excluded where depreciation has been claimed on the tax component of capital goods, subject to a statutory time limit for claiming credit tied to the annual return cycle, and a recipient's failure to pay the supplier within the prescribed period triggers addition of the availed credit to output liability with interest, though credit may be restored upon payment. en-us Sat, 17 Jun 2017 16:07:16 +0530 Tue, 20 Jun 2017 14:09:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26394 Entitlement to Input Tax Credit requires prescribed conditions: possession of a tax invoice or prescribed document from a registered supplier, receipt (or deemed receipt) of goods or services, tax in respect of the supply actually paid to the Government (cash or permitted credit utilisation), and filing the prescribed return. Credit is excluded where depreciation has been claimed on the tax component of capital goods, subject to a statutory time limit for claiming credit tied to the annual return cycle, and a recipient's failure to pay the supplier within the prescribed period triggers addition of the availed credit to output liability with interest, though credit may be restored upon payment. Act-Rules GST - States Sat, 17 Jun 2017 16:07:16 +0530 https://www.taxtmi.com/acts?id=26394