Is input tax credit allowed only after matching?
Question 31
Bill
Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 31. Is input tax credit allowed only after matching?
Ans. No, input tax credit is allowed provisionally for two months. The supply details are matched by the system and discrepancies are communicated to concerned supplier and recipient. In case mismatch continues, the ITC taken would be reversed automatically.
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