In cases where invoices against goods are received in instalments or lots instead of a single receipt of goods, then the recipient can only claim Input Tax Credit upon receiving the last receipt of goods. The recipient CAN NOT claim ITC in parts.
- 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?