Input tax credit restrictions expanded to cover CSR-related supplies and revised exempt supply valuation rules under GST. Section 17 of the Central Goods and Services Tax Act is amended to revise the Explanation to sub-section (3) so that the relevant valuation excludes the value of activities or transactions specified in paragraph 5 of the Schedule and prescribed activities or transactions under clause (a) of paragraph 8 of the Schedule. A new clause in sub-section (5) denies input tax credit on goods or services used for corporate social responsibility obligations under section 135 of the Companies Act, 2013.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit restrictions expanded to cover CSR-related supplies and revised exempt supply valuation rules under GST.
Section 17 of the Central Goods and Services Tax Act is amended to revise the Explanation to sub-section (3) so that the relevant valuation excludes the value of activities or transactions specified in paragraph 5 of the Schedule and prescribed activities or transactions under clause (a) of paragraph 8 of the Schedule. A new clause in sub-section (5) denies input tax credit on goods or services used for corporate social responsibility obligations under section 135 of the Companies Act, 2013.
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