We've upgraded AI Search on TaxTMI with two powerful modes:
1. Basic • Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI
2. Advanced • Includes everything in Basic • Detailed report covering: - Overview Summary - Governing Provisions [Acts, Notifications, Circulars] - Relevant Case Laws - Tariff / Classification / HSN - Expert views from TaxTMI - Practical Guidance with immediate steps and dispute strategy
• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:
Input Tax Credit apportionment restricted to business and taxable uses; specific supplies and persons face blocked credit rules. Input tax credit is restricted to the portion attributable to business use or to taxable supplies where inputs are used partly for taxable and partly for exempt supplies; prescribed rules define exempt supply value and list inclusions. Banking and financial institutions may opt to follow general apportionment or claim fifty per cent of eligible credit monthly under conditions. Credit is blocked for specified items and uses, including most motor vehicles, certain hospitality and personal services, works contracts and construction of immovable property (subject to capitalisation), composition-scheme supplies, non-resident inward supplies (except imports), personal consumption, lost or disposed goods, and tax recovered under specified provisions, while the Government may prescribe attribution methodology and defines 'plant and machinery' with exclusions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Input Tax Credit apportionment restricted to business and taxable uses; specific supplies and persons face blocked credit rules.</h1> Input tax credit is restricted to the portion attributable to business use or to taxable supplies where inputs are used partly for taxable and partly for exempt supplies; prescribed rules define exempt supply value and list inclusions. Banking and financial institutions may opt to follow general apportionment or claim fifty per cent of eligible credit monthly under conditions. Credit is blocked for specified items and uses, including most motor vehicles, certain hospitality and personal services, works contracts and construction of immovable property (subject to capitalisation), composition-scheme supplies, non-resident inward supplies (except imports), personal consumption, lost or disposed goods, and tax recovered under specified provisions, while the Government may prescribe attribution methodology and defines 'plant and machinery' with exclusions.
TaxTMI 
• Category-wise results to explore all relevant documents on TaxTMI
Help Us Improve - by giving the rating with each AI Result:
TaxTMI 
TaxTMI 
