An e-invoice will be considered valid once an IRN is generated for the same. Further, it is necessary to get the IRN and QR code printed on the final invoice. Thus, when you are on the receiving side of the invoice cycle, having IRN for an invoice will be necessary to claim ITC. Now, the e-invoice mandate, as we know, is applicable to suppliers having turnover above ₹ 500 cr. Invoices...

also based on the purchase register of the taxpayer. There are some cases where ITC cannot be claimed at all for which you can refer to our blog: Cases where Input Tax Credit cannot be claimed. Similarly there are a few preconditions that need to be met while claiming ITC. Let us understand in detail these preconditions that you need to take care while claiming ITC: Taxpayer should be in...