TMI BlogEligibility and conditions for taking input tax credit.X X X X Extracts X X X X X X X X Extracts X X X X ..... l be entitled to the credit of any input tax in respect of any supply of goods or services or both to him unless, (a) he is in possession of a tax invoice or debit note issued by a supplier registered under this Act, or such other tax paying documents as may be prescribed; 5 [ (aa) the details of the invoice or debit note referred to in clause (a) has been furnished by the supplier in the statement of outward supplies and such details have been communicated to the recipient of such invoice or debit note in the manner specified under section 37; ] (b) he has received the goods or services or both. 1 [ Explanation.-For the purposes of this clause, it shall be deemed that the registered person has received the goods or, as t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cipient shall be 9 [ paid by him along with interest payable under section 50 ] , in such manner as may be prescribed: Provided also that the recipient shall be entitled to avail of the credit of input tax on payment made by him 10 [ to the supplier ] of the amount towards the value of supply of goods or services or both along with tax payable thereon. (3) Where the registered person has claimed depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of the Income-tax Act, 1961 (43 of 1961), the input tax credit on the said tax component shall not be allowed. (4) A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for sup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w.e.f ................ before it was read as section 41 3. Inserted vide Order No. 02/2018-Central Tax dated 31-12-2018 4. Omitted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-01-2021 before it was read as invoice relating to such 5. Inserted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-01-2022 6. Inserted vide Finance Act, 2022 w.e.f. 01-10-2022 7. Omitted vide Finance Act, 2022 w.e.f. 01-10-2022 before it was read as or section 43A 8. Substituted vide Finance Act, 2022 w.e.f. 01-10-2022 before it was read as due date of furnishing of the return under section 39 for the month of September 9. Substituted vide THE FINANCE ACT, 2023 d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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