https://www.taxtmi.com/acts?id=2976 Apportionment of tax credit reduces claimed input tax credit when goods bought for specified purposes are later used for other purposes or transferred/exported. If commodity-wise accounts clearly correlate use, reduction equals input tax on purchases used for other purposes or follows the transfer-specific reduction mechanism. If such accounts are not maintained, reduction is calculated using the higher of immediate pre-use purchase price or fair market value, with transfer/export adjustments reduced according to the transfer rule. en-us Sat, 19 Jan 2008 22:45:54 +0530 Tue, 17 Jul 2012 13:23:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2976 Apportionment of tax credit reduces claimed input tax credit when goods bought for specified purposes are later used for other purposes or transferred/exported. If commodity-wise accounts clearly correlate use, reduction equals input tax on purchases used for other purposes or follows the transfer-specific reduction mechanism. If such accounts are not maintained, reduction is calculated using the higher of immediate pre-use purchase price or fair market value, with transfer/export adjustments reduced according to the transfer rule. Act-Rules VAT - Delhi Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2976