https://www.taxtmi.com/acts?id=27432 Registered persons may claim input tax credit for supplies used in business only if they possess a tax invoice or prescribed document, have received the goods or services (including deemed receipt), the tax on the supply has been paid to the Government in cash or by utilization of admissible input tax credit, and they have furnished the statutory return. Credits for supplies received in instalments accrue on receipt of the last instalment. Credits corresponding to tax on depreciated capital goods are disallowed. Failure by the recipient to pay the supplier within a prescribed period mandates addition of the credit to output liability with interest, though credit may be restored on payment. en-us Fri, 23 Jun 2017 18:24:27 +0530 Tue, 27 Jun 2017 14:11:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=27432 Registered persons may claim input tax credit for supplies used in business only if they possess a tax invoice or prescribed document, have received the goods or services (including deemed receipt), the tax on the supply has been paid to the Government in cash or by utilization of admissible input tax credit, and they have furnished the statutory return. Credits for supplies received in instalments accrue on receipt of the last instalment. Credits corresponding to tax on depreciated capital goods are disallowed. Failure by the recipient to pay the supplier within a prescribed period mandates addition of the credit to output liability with interest, though credit may be restored on payment. Act-Rules GST - States Fri, 23 Jun 2017 18:24:27 +0530 https://www.taxtmi.com/acts?id=27432