https://www.taxtmi.com/caselaws?id=440248 AAR Kerala held that ITC is admissible on goods purchased from outsourced vendors when payment is settled through book adjustment against debt from outward supplies to the same vendors. The authority determined that book adjustment entries constitute valid payment mode under GST law, referencing Sections 12 and 13 provisions. Settlement of mutual debts through book adjustment satisfies consideration payment requirements under Section 16(2) second proviso of CGST Act 2017, making ITC available subject to other prescribed conditions and restrictions under Sections 16, 17, and 18. en-us Thu, 02 Mar 2023 00:00:00 +0530 Fri, 18 Apr 2025 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440248 AAR Kerala held that ITC is admissible on goods purchased from outsourced vendors when payment is settled through book adjustment against debt from outward supplies to the same vendors. The authority determined that book adjustment entries constitute valid payment mode under GST law, referencing Sections 12 and 13 provisions. Settlement of mutual debts through book adjustment satisfies consideration payment requirements under Section 16(2) second proviso of CGST Act 2017, making ITC available subject to other prescribed conditions and restrictions under Sections 16, 17, and 18. Case-Laws GST Thu, 02 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440248