Input tax credit is to be proportionately reduced on purchase of goods if such goods are used other than local sale.

Input tax credit is to be proportionately reduced on purchase of goods if such goods are used other than local sale. https://www.taxtmi.com/notifications?id=4371 Input tax credit must be proportionately reduced where purchased goods are used partly to make taxable local, inter state or export sales and partly to make sales exempt under the First Schedule (such as scrap). Entitlement to input tax credit is limited to purchases related to taxable or export sales; where inputs produce both taxable and exempt outputs the credit is apportioned by the mechanism in sub section (4) read with sub sections (1) and (3). en-us Thu, 15 Dec 2005 00:00:00 +0530 Mon, 29 Sep 2008 10:55:00 +0530 TaxTMI RSS Generator Input tax credit is to be proportionately reduced on purchase of goods if such goods are used other than local sale. https://www.taxtmi.com/notifications?id=4371 Input tax credit must be proportionately reduced where purchased goods are used partly to make taxable local, inter state or export sales and partly to make sales exempt under the First Schedule (such as scrap). Entitlement to input tax credit is limited to purchases related to taxable or export sales; where inputs produce both taxable and exempt outputs the credit is apportioned by the mechanism in sub section (4) read with sub sections (1) and (3). Notifications VAT - Delhi Thu, 15 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/notifications?id=4371