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of <h1>Section 17 of Himachal Pradesh GST Act: Input Tax Credit Rules, Blocked Credits, and Exempt Supplies Explained</h1> Section 17 of the Himachal Pradesh Goods and Services Tax Act, 2017, outlines the apportionment of input tax credit and specifies blocked credits. It mandates that input tax credit is limited to the portion attributable to business purposes or taxable supplies, including zero-rated supplies. Exempt supplies include reverse charge transactions, securities, and real estate sales. Banking and financial institutions can opt for a simplified credit mechanism. Certain goods and services, such as motor vehicles, food, beverages, and construction services, are ineligible for input tax credit unless used for specific taxable supplies. The section also details exclusions and conditions for credit eligibility.
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