Input tax credit limitation: credit on input services restricted to the rate charged by the supplier, excess disallowed. The notification amends SRO-GST11/2017 to provide that where a supplier of an input service in the same line of business charges central tax at a rate higher than that charged by the recipient, input tax credit on that input service in excess of the tax paid or payable at the lower rate shall not be taken; illustrative examples are added and specified entries in the Table and Annexure are revised or omitted.
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Input tax credit limitation: credit on input services restricted to the rate charged by the supplier, excess disallowed.
The notification amends SRO-GST11/2017 to provide that where a supplier of an input service in the same line of business charges central tax at a rate higher than that charged by the recipient, input tax credit on that input service in excess of the tax paid or payable at the lower rate shall not be taken; illustrative examples are added and specified entries in the Table and Annexure are revised or omitted.
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