Section 41 of CGST Act, 2017 Claim of input tax credit and provisional acceptance thereof
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The below post explains about Claim of input tax credit and provisional acceptance thereof under section 41 of CGST Act,2017.
Section 41 of CGST Act, 2017 explains Claim of input tax credit and provisional acceptance thereof as below: (The amendments if any will also be updated here soon).
The extract of Section 41 of CGST Act,2017 quoted below:
41 Claim of input tax credit and provisional acceptance thereof.
41. (1) Every registered person shall, subject to such conditions and restrictions as
may be prescribed, be entitled to take the credit of eligible input tax, as self-assessed, in his
return and such amount shall be credited on a provisional basis to his electronic credit
ledger.
(2) The credit referred to in sub-section (1) shall be utilised only for payment of self-assessed
output tax as per the return referred to in the said sub-section.
The above information clarifies about Claim of input tax credit and provisional acceptance thereof under section 41 of CGST Act,2017.
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