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of <h1>Tripura Clarifies GST Rules: ITC on Deemed Exports, Section 17(5) Leasing, and Employee Perquisites Explained.</h1> The Government of Tripura issued a circular to ensure uniform implementation of GST provisions, following a similar directive from the Government of India. Key clarifications include the handling of Input Tax Credit (ITC) for deemed export supplies, interpretation of section 17(5) of the CGST Act regarding ITC on leasing, and treatment of employee perquisites under GST. It clarifies that ITC on deemed exports is not subject to section 17 provisions, ITC on leasing applies only to motor vehicles, vessels, and aircraft, and perquisites under employment contracts are not taxable. Additionally, electronic credit ledger funds cannot be used for reverse charge tax payments, while electronic cash ledger funds can cover all liabilities under GST laws.
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