Input tax credit allocation based on taxable area clarifies apportionment between taxable, zero-rated and exempt supplies. For services covered by clause (b) of para 5 of Schedule II, the credit attributable to taxable supplies, including zero-rated and exempt supplies, must be determined based on the area of the construction, building, civil structure or part thereof that is taxable compared with the area that is exempt.
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Input tax credit allocation based on taxable area clarifies apportionment between taxable, zero-rated and exempt supplies.
For services covered by clause (b) of para 5 of Schedule II, the credit attributable to taxable supplies, including zero-rated and exempt supplies, must be determined based on the area of the construction, building, civil structure or part thereof that is taxable compared with the area that is exempt.
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