Hey guys, you already know that Parliament has passed the GST law. Rules relating to GST has also been released by the government. These rules provide guidelines on issues such how the invoice should be issued, how the input tax credit on goods can be taken. You being a businessman may purchase various goods for further production. Do you know the tax that you pay on these inputs will be allowed to set off against the output duty ?Here in detail how you can claim such input tax.
The latest rules prescribed by the government mentions some conditions that are required to be fulfilled before you can claim such input tax credit.
The conditions are-
1. You need to register under GST to claim input tax credit.
2. Documents required-
There is a return GSTR-2 which is required to be filed by the receiver of taxable goods and services. In this return the person has to give the details of input goods/services received by him.
Simply first you need the above mentioned documents and then you have to file the GSTR-2 return.