Input tax credit apportionment limits credit to business and taxable use; banks may elect a prescribed monthly claim arrangement. Input tax credit is restricted to the portion attributable to business use or to taxable supplies when inputs are used partly for exempt supplies; exempt supplies include supplies on which recipient pays tax under reverse charge, transactions in securities, sale of land and certain sales of buildings. Banks and financial institutions may opt for a prescribed monthly claim arrangement instead of general apportionment, with the option irrevocable for the financial year. The statute lists specific blocked credits, including most motor vehicles, certain personal and hospitality services, construction for immovable property (other than plant and machinery), composition scheme supplies, non-resident inward supplies except imports, personal consumption, lost or gifted goods, and certain tax payments. Plant and machinery is defined with specific exclusions.