https://www.taxtmi.com/article/detailed?id=12168 Availability of Input Tax Credit depends on satisfying the conditions in Section 16(2), including possession of invoices, receipt of goods or services, payment of tax, and return filing. If a buyer meets these conditions and can substantiate payment with invoices and bank records, discrepancies between seller and buyer returns do not alone permit reversal of credit. Tax authorities must first act against the supplying dealer unless exceptional circumstances such as collusion, the supplier being untraceable, ceased business, or lack of assets are established before directing reversal by the buyer. en-us Mon, 25 Dec 2023 10:49:36 +0530 Mon, 25 Dec 2023 10:49:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12168 Availability of Input Tax Credit depends on satisfying the conditions in Section 16(2), including possession of invoices, receipt of goods or services, payment of tax, and return filing. If a buyer meets these conditions and can substantiate payment with invoices and bank records, discrepancies between seller and buyer returns do not alone permit reversal of credit. Tax authorities must first act against the supplying dealer unless exceptional circumstances such as collusion, the supplier being untraceable, ceased business, or lack of assets are established before directing reversal by the buyer. Articles Goods and Services Tax - GST Mon, 25 Dec 2023 10:49:36 +0530 https://www.taxtmi.com/article/detailed?id=12168