Section 21(7) in The Police Enhanced Penalties Ordinance, 2005
(7)Input tax credit shall not be claimed by the dealer until the tax period in which he receives from the registered dealer from whom he has purchased the goods a tax invoice in the prescribed form (in original) evidencing the amount of tax (Input tax):Provided that for good and sufficient reasons to be recorded in writing and in the prescribed manner the Assessing Authority may allow such credit subject to such conditions and restrictions as may be specified. The set off, however, shall not be carried beyond the end of the second financial year.
