Jul 05, 2024
Prepared by

What are the conditions necessary for obtaining ITC?

Following four conditions are to be satisfied by the registered taxable person for obtaining ITC:

  • he is in possession of tax invoice or debit note or such other tax paying documents (such as bill of entry or any other document prescribed under the Customs Act, ISD invoice as prescribed in Rule 36(1) of the CGST Rules).
  • he has received the goods or services or both;
  • the supplier has actually paid the tax charged in respect of the supply to the government; and
  • he has furnished the return under section 39.
Tags
debit-notenecessaryobtaining-itcpossessionregisteredinvoiceisd-invoiceconditionstaxable-person