https://www.taxtmi.com/article/detailed?id=11439 Sections 16 and 49 govern entitlement to input tax credit and the manner of deposit to the electronic ledgers; the GST Act does not expressly prohibit settling supplier recipient consideration by book adjustment, and where payment by set off discharges the obligation it does not, in itself, preclude claiming input tax credit, subject to the statutory conditions and reversal provisions for non payment within the prescribed period. en-us Mon, 29 May 2023 15:05:27 +0530 Mon, 29 May 2023 15:05:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11439 Sections 16 and 49 govern entitlement to input tax credit and the manner of deposit to the electronic ledgers; the GST Act does not expressly prohibit settling supplier recipient consideration by book adjustment, and where payment by set off discharges the obligation it does not, in itself, preclude claiming input tax credit, subject to the statutory conditions and reversal provisions for non payment within the prescribed period. Articles Goods and Services Tax - GST Mon, 29 May 2023 15:05:27 +0530 https://www.taxtmi.com/article/detailed?id=11439