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of <h1>Karnataka Clarifies GST Rules: ITC on Deemed Exports, Employer Perquisites, and Ledger Usage Explained.</h1> The circular issued by the Karnataka Department of Commercial Taxes addresses several GST-related issues. It clarifies that the Input Tax Credit (ITC) for deemed export supplies is not subject to Section 17 of the KGST Act and should not be included in 'Net ITC' calculations for refunds. The proviso in Section 17(5) applies to the entire clause, and ITC is not barred for leasing other than motor vehicles, vessels, and aircraft. Employer-provided perquisites under contractual agreements are not subject to GST. The electronic credit ledger can be used for output tax payments but not for reverse charge liabilities or non-tax payments, while the electronic cash ledger can cover all liabilities under GST laws.
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