Input Tax Credit rules: ITC for deemed exports excluded from Section 17 and not included in net ITC. Tax paid on supplies treated as deemed exports is provided as ITC only for enabling portal refunds and is not ITC under Chapter V, hence not subject to Section 17 and excluded from Net ITC for refund computations. The proviso to clause (b)(5) of Section 17 applies to the whole clause, enabling ITC where an employer is legally obliged to provide the good or service. 'Leasing' in that clause is limited to motor vehicles, vessels and aircraft. Employer perquisites under contract are not supplies. Electronic credit ledger may be used for output tax but not reverse charge tax or non tax liabilities; electronic cash ledger may be used for tax, interest, penalty and fees.
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.
Input Tax Credit rules: ITC for deemed exports excluded from Section 17 and not included in net ITC.
Tax paid on supplies treated as deemed exports is provided as ITC only for enabling portal refunds and is not ITC under Chapter V, hence not subject to Section 17 and excluded from Net ITC for refund computations. The proviso to clause (b)(5) of Section 17 applies to the whole clause, enabling ITC where an employer is legally obliged to provide the good or service. "Leasing" in that clause is limited to motor vehicles, vessels and aircraft. Employer perquisites under contract are not supplies. Electronic credit ledger may be used for output tax but not reverse charge tax or non tax liabilities; electronic cash ledger may be used for tax, interest, penalty and fees.
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