Article 49 establishes the conditions under which a Taxable Person may deduct Input Tax paid on goods and services acquired before their VAT registration date. Key requirements include that the goods and services are for making Taxable Supplies, Capital Assets were not fully depreciated, and goods were not supplied onward before registration. Services must have been received within a specific period determined by each Member State. The deduction is disallowed if subject to other restrictions in the Agreement. For Capital Assets, the deductible Input Tax is calculated based on their net book value on the registration date, as specified by each Member State.