Section 16 – Draft-Bills-Reports – INPUT TAX CREDIT – MODEL GST LAW – Draft The Central / State Goods and Services Tax Act, 2016 – [November 2016] – Section 16 – CHAPTER V INPUT TAX CREDIT 16. Eligibility and conditions for taking input tax credit (1) Every registered taxable person shall, subject to such conditions and restrictions as may be prescribed and within the time and manner specified in section 44, be entitled to take credit of input tax charged on any supply of goods or services to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person: PROVIDED that credit of input tax in respect of pipelines and telecommunicatio
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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 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 input tax credit admissible in respect of the said supply; and (d) he has furnished the return under section 34: PROVIDED that where the goods against an invoice are received in lots or instalments, the registered taxable person shall be entitled to take credit upon receipt of the last lot or installment: PROVIDED FURTHER that where a recipient fails to pay to the suppli
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