Input tax credit apportionment clarified for construction services using taxable and exempt area-based allocation. Clarification is issued for apportioning input tax credit in relation to construction-related services covered by clause (b) of para 5 of Schedule II. The credit attributable to taxable supplies, including zero rated supplies and exempt supplies, is to be determined on the basis of the area of the taxable portion and the area that is exempt. The Order applies from 1 April 2019.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit apportionment clarified for construction services using taxable and exempt area-based allocation.
Clarification is issued for apportioning input tax credit in relation to construction-related services covered by clause (b) of para 5 of Schedule II. The credit attributable to taxable supplies, including zero rated supplies and exempt supplies, is to be determined on the basis of the area of the taxable portion and the area that is exempt. The Order applies from 1 April 2019.
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