https://www.taxtmi.com/forum/issue?id=118195 Claiming Input Tax Credit before actual physical receipt of goods because an invoice appears in the electronic statement contravenes the entitlement condition requiring possession; the deeming provision for delivery or transfer of documents does not necessarily replace the physical possession requirement. Improper credit availment can trigger reversal, interest and potential penalty exposure under the penal provision for taking credit without actual receipt, subject to departmental fact finding and issuance of show cause proceedings. en-us Wed, 19 Oct 2022 12:12:41 +0530 Thu, 23 Jan 2025 15:54:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118195 Claiming Input Tax Credit before actual physical receipt of goods because an invoice appears in the electronic statement contravenes the entitlement condition requiring possession; the deeming provision for delivery or transfer of documents does not necessarily replace the physical possession requirement. Improper credit availment can trigger reversal, interest and potential penalty exposure under the penal provision for taking credit without actual receipt, subject to departmental fact finding and issuance of show cause proceedings. Discussion-Forum GST Wed, 19 Oct 2022 12:12:41 +0530 https://www.taxtmi.com/forum/issue?id=118195