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Eligibility and conditions for taking input tax credit

Section 16 - Draft-Bills-Reports - INPUT TAX CREDIT - Goods and Services Tax - Section 16 - CHAPTER V INPUT TAX CREDIT 16. (1) Every registered taxable person shall, subject to such conditions and restrictions as may be prescribed and within the time .....

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the electronic credit ledger of such person: PROVIDED that credit of input tax in respect of pipelines and telecommunication tower fixed to earth by foundation or structural support including foundation and structural support thereto shall not excee .....

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referred to in clause (a) in which the said goods are received, and (c) the balance of the amount of credit in any subsequent financial year. (2) Notwithstanding anything contained in this section, but subject to the provisions of section 36, no regi .....

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her taxpaying document(s) as may be prescribed; (b) he has received the goods and/or services; (c) the tax charged in respect of such supply has been actually paid to the account of the appropriate Government, either in cash or through utilization of .....

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take credit upon receipt of the last lot or installment: PROVIDED FURTHER that where a recipient fails to pay to the supplier of services, the amount towards the value of supply of services along with tax payable thereon within a period of three mon .....

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purpose of clause (b), it shall be deemed that the taxable person has received the goods where the goods are delivered by the supplier to a recipient or any other person on the direction of such taxable person, whether acting as an agent or otherwise .....

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