What are the conditions necessary for obtaining ITC?
Question 25
Bill
Input Tax Credit
FAQ on GST dated 21.9.2016 based on Draft Model GST
Q 25. What are the conditions necessary for obtaining ITC?
\nAns. As per Section 16(11) of the MGL, following four conditions are stipulated:
\n(a) The registered taxable person should be in possession of tax paying document issued by a supplier;
\n(b) The taxable person must have received the goods and \/ or services;
\n(c) The tax charged on suc<\/p>\n
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