Section 36 : Claim of input tax credit and provisional acceptance thereof – Returns

Published by Team@HostBooks at Last Updated on August 8th, 2018 at 2:44 pm Published on June 10, 2017

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Claim of input tax credit and provisional acceptance thereof – Returns

(1) Every registered taxable person shall, subject to such conditions and restrictions as may be prescribed in this behalf, be entitled to take credit of input tax, as selfassessed in his return and such amount shall be credited, on a provisional basis, to his electronic credit ledger to be maintained in the manner as may be prescribed.

(2) The credit referred to in sub-section (1) shall be utilised only for payment of selfassessed output tax liability as per the return referred to in sub-section (1).

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Arpita Bora is leading the content writing team at HostBooks Limited. She has pursued her Masters in Commerce. With over 4.5 years of experience in technical and creative writing, she specializes in both long and short-form digital content.