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(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.41.1 Introduction
This Section relates to claim of input tax credit and its provisional acceptance.
41.2 Analysis
All registered person shall be eligible to avail eligible input tax credit on self-assessment basis.
Such amount shall be credited to his electronic credit ledger
This self assessed input tax credit shall be utilised only for payment of self-assessed output tax.
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