Input Tax Credit - Reg

[KIRAN KUMAR]

Dear Sir,

Our company deal with Taxable and Exempted Supplies and taxable Service. Please go through the below table.

Kindly provide the Input tax credit rules with following table examples

Particulars	Turnover	CGST	SGST	IGST
Out Put Service( Leasing of Plant)	2060000	185400	185400
Out Put Sales	2754274.024	150080.9	150080.9
Out Put Sales	348000	0	0	62640
Taxable Servic & Sales	5162274.024	335480.9	335480.9	62640
Exempted Sales	283518356.9
Total Turnover	288680630.9

AI Summary

Input tax credit allocation: apportion credits between taxable and exempt supplies proportionately based on taxable turnover ratio.
Input tax credit entitlement requires classifying credits as exclusively for taxable supplies (fully claimable), exclusively for exempt supplies (not claimable), or common credits to be apportioned between taxable and exempt outputs based on the relative value of taxable versus exempt supplies; computation depends on purchase/inward-supply data and verification of the nature of supplies.