https://www.taxtmi.com/article/detailed?id=8035 Only a registered person may claim Input Tax Credit; persons registering because turnover exceeds thresholds or by voluntary registration may claim ITC for inputs, inputs in semi finished or finished goods and capital goods held in stock immediately before becoming liable to tax. ITC must be claimed within one year of the invoice date. Capital goods are adjusted by a prescribed quarterly percentage when reversing credit; transfers of business permit transfer of unutilised ITC only where liability transfer is provided for. Proper tax invoices and supplier return filing are prerequisites to claim ITC. en-us Tue, 19 Jun 2018 17:48:51 +0530 Tue, 19 Jun 2018 17:48:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8035 Only a registered person may claim Input Tax Credit; persons registering because turnover exceeds thresholds or by voluntary registration may claim ITC for inputs, inputs in semi finished or finished goods and capital goods held in stock immediately before becoming liable to tax. ITC must be claimed within one year of the invoice date. Capital goods are adjusted by a prescribed quarterly percentage when reversing credit; transfers of business permit transfer of unutilised ITC only where liability transfer is provided for. Proper tax invoices and supplier return filing are prerequisites to claim ITC. Articles Goods and Services Tax - GST Tue, 19 Jun 2018 17:48:51 +0530 https://www.taxtmi.com/article/detailed?id=8035