Do you want to assure your ITC: Steps to be taken by Recipient at the time of Receipt of Goods / Services

Sec 16 of CGST Act allows ITC to be availed on all goods and/or services which are used or intended to be used by the Recipient in the course or furtherance of business. Sec 16(2) read with rule 36 lays down the conditions for availment of ITC. Furthermore Sec 155 claims that where any person claims that he is eligible for input tax credit under this Act, the burden of proving such claim shall lie on such person. Thus, as Recipient of goods and/ or services , we need to take various safeguards to ensure that ITC availed by us as recipient may not be contested by the department at any time in future. Read more...