https://www.taxtmi.com/acts?id=30005 Registered persons may claim input tax credit for supplies used in the course or furtherance of business, credited to the electronic credit ledger, only if they hold a tax invoice or prescribed document from a registered supplier, have received the goods or services (including deemed receipt), tax for the supply has been paid to the Government (cash or admissible credit) subject to section 41, and the return under section 39 has been furnished. Credit for goods received in instalments is allowed on receipt of the last instalment; failure to pay the supplier within the prescribed period requires reversal of credit with interest, though the credit can be restored on payment. en-us Sat, 08 Jul 2017 11:02:49 +0530 Sat, 29 Jul 2017 14:48:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=30005 Registered persons may claim input tax credit for supplies used in the course or furtherance of business, credited to the electronic credit ledger, only if they hold a tax invoice or prescribed document from a registered supplier, have received the goods or services (including deemed receipt), tax for the supply has been paid to the Government (cash or admissible credit) subject to section 41, and the return under section 39 has been furnished. Credit for goods received in instalments is allowed on receipt of the last instalment; failure to pay the supplier within the prescribed period requires reversal of credit with interest, though the credit can be restored on payment. Act-Rules GST - States Sat, 08 Jul 2017 11:02:49 +0530 https://www.taxtmi.com/acts?id=30005