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ITC

What is Input Tax Credit?
Can GST paid under Reverse Charge Mechanism be considered as input tax?
Does Input Tax Credit under GST include IGST, CGST & SGST paid on input goods, services or capital goods?
What are the eligibility conditions to avail Input Tax Credit under GST?
What particulars are required on the GST tax invoices or Debit note to claim Input Tax Credit?
How to avail Input Tax Credit under GST against the invoices where goods or received in lots or installments?
Can a person take input tax credit without payment of consideration for the supply along with tax to the supplier?
What would happen to the ITC taken by the registered person if he has not paid the consideration along with tax within 180 days from the date of issue of invoice?
Can the recipient reclaim the Input Tax Credit that was reversed due to non-payment of consideration within 180 days from the date of invoice issuance?
Is ITC allowed on all the types of goods or services supplies under GST?

Can GST paid under Reverse Charge Mechanism be considered as input tax?

In Reverse Charge Mechanism under GST, a Supplier is NOT allowed to claim the ITC of GST paid under Reverse charge mechanism by the recipient of the goods/services.

However, the Recipient is ALLOWED to claim ITC on the GST amount paid on purchase of goods or services provided that these goods or services are further used for business purposes only.

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