Input tax credit limitation: restricts credit on same-line services to the rate applicable to the recipient's supply, narrowing recoverability. Adds a proviso limiting recovery of input tax credit where a supplier in the same line of business charges state tax at a higher rate; credit is restricted to the amount of tax payable at the lower applicable rate, with illustrative examples. Also substitutes wording in an item at serial number 34, omits a related item, and removes serial numbers 696 and 698 from the Scheme of Classification of Services. Changes take effect from the stated commencement date in October 2023.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Input tax credit limitation: restricts credit on same-line services to the rate applicable to the recipient's supply, narrowing recoverability.
Adds a proviso limiting recovery of input tax credit where a supplier in the same line of business charges state tax at a higher rate; credit is restricted to the amount of tax payable at the lower applicable rate, with illustrative examples. Also substitutes wording in an item at serial number 34, omits a related item, and removes serial numbers 696 and 698 from the Scheme of Classification of Services. Changes take effect from the stated commencement date in October 2023.
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