If the goods are received in lots/instalment, __________

CS Executive · Tax Laws · PYQS · June 2024
If the goods are received in lots/instalment, __________
(A) 50% ITC can be taken on receipt of 1st lot and balance 50% on receipt of last lot
(B) ITC can be availed upon receipt of last lot
(C) 100% ITC can be taken on receipt of 1st lot
(D) Proportionate ITC can be availed on receipt of each lot/instalment

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Goods and Services Tax (GST)

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