Your Checklist for Claiming Input Tax Credit (Downloadable)
Input tax credit is a critical component of compliance under GST. While input tax credit is available on all inputs used in the course of business or for furtherance of business, certain conditions have been laid down for claiming the input credit. Also, input tax credit is not allowed on certain inputs. This checklist is a useful ready reckoner for you to claim input tax credit correctly. Conditions for claiming input tax credit Negative list (Goods or services on which input tax credit cannot be claimed) ✔ The inputs should be used or intended to be used in the course of business or for furtherance of the business ✔ Motor vehicles or other conveyance, unless they have been further supplied […]