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<h1>Input tax credit for banks and financial institutions: limits credits for non-business and specified supplies; allocates portion to credit ledger.</h1> Banking and financial institutions that choose the option under sub-section (4) must exclude credit for tax on inputs and input services used for non-business purposes and for supplies excluded by statute, record these in FORM GSTR-2, claim permitted credits under the second proviso to sub-section (4), and treat fifty per cent of the remaining input tax as admissible credit to be furnished in FORM GSTR-2 and credited, subject to compliance provisions, to the electronic credit ledger.
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