https://www.taxtmi.com/article/detailed?id=16783 Input Tax Credit under GST allows a registered business to reduce output tax by the tax already paid on business purchases, so only the value added is taxed. The claim depends on invoice matching through the GST portal, reflection in GSTR-2B, and reporting in GSTR-3B after verification of supplier data and receipt of goods or services. Eligibility, blocked credits, reversal rules, reconciliation, filing deadlines, e-invoicing, capital goods treatment, and composition scheme restrictions are also explained. en-us Mon, 29 Jun 2026 09:33:50 +0530 Mon, 29 Jun 2026 09:33:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16783 Input Tax Credit under GST allows a registered business to reduce output tax by the tax already paid on business purchases, so only the value added is taxed. The claim depends on invoice matching through the GST portal, reflection in GSTR-2B, and reporting in GSTR-3B after verification of supplier data and receipt of goods or services. Eligibility, blocked credits, reversal rules, reconciliation, filing deadlines, e-invoicing, capital goods treatment, and composition scheme restrictions are also explained. Articles Goods and Services Tax - GST Mon, 29 Jun 2026 09:33:50 +0530 https://www.taxtmi.com/article/detailed?id=16783