Under the GST regime, input tax credit can be availed by every registered taxable person on all inputs used or intended to be used in the course of or for furtherance of business. However, claiming ITC is subject to certain conditions:
You should have the Tax Invoice/Debit or Credit Note issued by a registered person.
The goods/services should have been received.
You should have filed GSTR-3B for the related month
The tax charged has been paid to the government by the supplier, either in cash or through utilization of ITC.
To know about the criteria and eligibility in detail for claiming ITC, refer to the following blogs:
Your checklist for availing input tax credit
Scenarios where you cannot avail input tax credit
Refer to Transferring Tax Credits of VAT, excise and service tax to GST, for more information.