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of <h1>Input Tax Credit Rules Under Tamil Nadu GST Act 2017: Business Use, Taxable Supplies, and Blocked Credits Explained</h1> Under the Tamil Nadu Goods and Services Tax Act, 2017, input tax credit is apportioned based on the use of goods or services for business or exempt purposes. Credit is limited to business use and taxable supplies, including zero-rated supplies. Exempt supplies include reverse charge transactions, securities, and real estate sales. Financial institutions can choose a 50% credit option. Certain credits are blocked, such as for motor vehicles, food services, club memberships, and construction of immovable property, unless used for specific taxable purposes. Credit is also denied for personal use, lost goods, and specific tax payments. The government may prescribe attribution methods.
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