What are the restrictions in claiming input tax credit?Who is eligible for GST input credit?How is ITC available calculated?

 What are the restrictions in claiming input tax credit?

Update as on 9th October 2019. The CBIC has notified that the input tax credit that can be availed by a registered person in respect of invoices or debit notes, will be restricted to 20% of of the eligible credit available in respect of invoices or debit notes as per details uploaded by the suppliers

Who is eligible for GST input credit?

A registered person (including an Input Service Distributor) can claim Input tax credit on the strength of the following conditions: a) He must possess a Tax invoice issued by the supplier of goods or services or both or Debit note issued by a supplier b) He must have received supply of goods or services or both 

How is ITC available calculated?

3) Determine the amount of GST you can claim as an ITC for various kinds of expenses. 4) Calculate utilizing the standard method.
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Utilization of Input Tax Credits.

Type of GST	Output Tax Liability	Input Tax Credit Available
IGST	5,000	10,000
CGST	7,500	5,000
SGST or UTGST	7,500	5,000
Total	20,000	20,000