Page 97 - GSTL_ 28th May 2020_Vol 36_Part 4

2020 ] IN RE : VAACHI INTERNATIONAL PVT. LTD. 543
(a) He is in possession of a tax invoice or debit note
issued by a supplier registered under this Act, or
such other taxpaying documents as may be pre-
scribed;
(b) He has received the goods or services or both.
[Explanation: - For the purposes of this clause, it
shall be deemed that the registered person has re-
ceived the goods or, as the case may be, services -
(i) Where the goods are delivered by the
supplier to a recipient or any other
person on the direction of such regis-
tered person, whether acting as an
agent or otherwise, before or during
movement of goods, either by way of
transfer of documents of title to goods
or otherwise.
(ii) Where the services are provided by the
supplier to any person on the direction
of and on account of such registered
person]
(c) Subject to the provisions of [Section 41 or Section
43A]. the tax charged in respect of such supply
has been actually paid to the Government, either
in cash or through utilization of input tax credit
admissible in respect of the said supply; and
(d) He has furnished the return under Section 39;
Provided that where the goods against an invoice are re-
ceived in lots or installments, the registered person shall
be entitled to take credit upon receipt of the last lot or in-
stallment :
Provided further that where a recipient fails to pay to the
supplier of goods or services or both, other than the sup-
plies on which tax is payable on reverse charge basis, the
amount towards the value of supply along with tax pay-
able thereon within a period of one hundred and eighty
days from the date of issue of invoice by the supplier, an
amount equal to the input tax credit availed by the recip-
ient shall be added to his output tax liability, along with
interest thereon, in such manner as may be prescribed;
Provided also that the recipient shall be entitled to avail
of the credit of input tax on payment made by him of the
amount towards the value of supply of goods or services
or both along with tax payable thereon.”
Section 49 of the said Act, which deals with payment of tax,
also speaks about the manner in which ITC shall be credited.
Sub-section (2) of Section 49 stipulates that the input tax credit
as self-assessed in the return of a registered person should be
credited to his electronic credit ledger in accordance with sec-
tion 41. The amount available in the electronic credit ledger
may be used by virtue of sub-section (4) of Section 49 for mak-
ing any payment towards output tax under the Act.
GST LAW TIMES  28th May 2020  97