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CGST ACT, 2017
[Amended upto 2024]

CHAPTER V  -  INPUT TAX CREDIT

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Summarize Section 16 by TaxGPT in English Hindi Gujarati Tamil Telugu Bangali Marathi Kannada Malayalam Punjabi Odia Assamese Maithili Urdu Generate Summary

Section 16 - Eligibility and conditions for taking input tax credit.

16. (1) Every registered person shall, subject to such conditions and restrictions as may be prescribed and in the manner specified in section 49, be entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit l

For notified rate of tax to be levied on specified firs intra-state supplies of gods or services see Notification No. 2/2019 Central Tax (Rate) dated 7 Mar, 2019 and Notification No. 2/2019 Union Territory Tax (Rate) dated 7 Mar, 2019

For notified classes of registered persons in whose case liability shall arise on specified date see Notification No. 6/2019 Central Tax (Rate) dated 29 Mar, 2019

For clarification on certain issues under GST laws see Circular No. 47/21/2018-GST Central Tax dated 8 Jun, 2018

For eligibility and conditions for Restriction in availment of input tax credit in terms of subrule (4) of rule 36 see Circular No. 123/42/2019-GST Central Tax dated 11 Nov, 2019

For eligibility & conditions for taxing -standard operating procedure to be followed by exporters see Circular No. 131/1/2020-GST Central Tax dated 23 Jan, 2020

See

Section 37,

 

Section 39,

 

Section 41,

 

Section 49,

 

Rule 36,

 

Rule 37,

 

Rule 43,

 

Rule 89,

 

Section 17,

 

Section 19,

 

Section 43A,

 

Rule 21,