GST Input Tax Credit changes from January 1 – Things to ask your vendor, how to protect your ITC and more

The new year 2022 is going to bring a significant change in the manner of availing  Input Tax Credit  (ITC) by the taxpayers under the Goods and Services Tax Act. The additional condition to avail ITC by the recipient of goods/services introduced by the  Finance Act , 2021 has been made effective from January 1, 2022.  With the upcoming change, ITC on an invoice/debit note can…