Input tax credit (ITC) in gst

Section 16 of the CGST Act, 2017 provides for eligible ITC.

When a registered person is supplied with goods or services or both, on which tax has been charged, he is allowed to take credit of the input tax paid. Following conditions to be satisified:

• Possession of a tax invoice or debit note or document evidencing payment 
• Receipt of goods and/or services 
• Goods delivered by the supplier to another person on the direction of a registered person against a document of transfer of title of goods 
• Furnishing of the GST return in form GSTR-3B by the supplier
• use of goods/services for the furtherance of business.
• Not mentioned under blocked credit u/s 17(5) of the CGST Act, 2017