Input tax credit allocation by construction area clarified; credit apportioned between taxable, zero rated and exempt supplies. Allocation of input tax credit for services under item (b) of para 5, Schedule II, is to be determined by apportioning credit between taxable (including zero rated) and exempt supplies on the basis of the area of the complex, building or civil structure (or part thereof) that is taxable versus that which is exempt.
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Input tax credit allocation by construction area clarified; credit apportioned between taxable, zero rated and exempt supplies.
Allocation of input tax credit for services under item (b) of para 5, Schedule II, is to be determined by apportioning credit between taxable (including zero rated) and exempt supplies on the basis of the area of the complex, building or civil structure (or part thereof) that is taxable versus that which is exempt.
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