Q 25. What are the conditions necessary for obtaining ITC?
Ans. As per Section 16(11) of the MGL, following four conditions are stipulated:
(a) The registered taxable person should be in possession of tax paying document issued by a supplier;
(b) The taxable person must have received the goods and / or services;
(c) The tax charged on such supply has been actually paid to the government either in cash or through utilization of input tax credit; and
(d) The taxable person should have furnished the return under section 27.
