Sathvik has received the goods in 5 lots in respect of a single invoice. Which of the following is in accordance with the first proviso to section 16(2) of CGST Act, 2017:

CS Executive · Tax Laws · PYQS · June 2022
Sathvik has received the goods in 5 lots in respect of a single invoice. Which of the following is in accordance with the first proviso to section 16(2) of CGST Act, 2017:
(A) 100% ITC can be taken on receipt of 1st lot
(B) 50% ITC can be taken on receipt of each lot
(C) 100% ITC can be availed upon receipt of last instalment of the lot
(D) None of the above

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: GST

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