What are the conditions necessary for obtaining ITC?


As per Section 16(11) of the MGL, following four conditions are stipulated:

(a) Theregistered taxablepersonshouldbeinpossession of tax paying document issued by a supplier;

(b) The taxable person must have received the goods and / or services;

(c) The tax charged on such supply has been actually paid to the government either in cash or through utilization of input tax credit; and

(d) The taxable person should have furnished the return under section 27.


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