https://www.taxtmi.com/acts?id=24916 Input tax credit is limited to the portion attributable to business use or to taxable and zero-rated supplies where inputs also serve exempt supplies; the Government may prescribe attribution methods. Specific items are blocked from credit, including most motor vehicles, certain services (food, catering, personal insurance, club membership, travel benefits), works contract and construction-related inputs for immovable property (other than plant and machinery), supplies under composition, imports by non-resident persons (except goods), goods for personal use, disposed or lost goods, and taxes paid under recovery provisions. Banks and financial institutions have a monthly alternative apportionment option subject to conditions. en-us Thu, 11 May 2017 10:41:39 +0530 Wed, 28 Jun 2017 16:15:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=24916 Input tax credit is limited to the portion attributable to business use or to taxable and zero-rated supplies where inputs also serve exempt supplies; the Government may prescribe attribution methods. Specific items are blocked from credit, including most motor vehicles, certain services (food, catering, personal insurance, club membership, travel benefits), works contract and construction-related inputs for immovable property (other than plant and machinery), supplies under composition, imports by non-resident persons (except goods), goods for personal use, disposed or lost goods, and taxes paid under recovery provisions. Banks and financial institutions have a monthly alternative apportionment option subject to conditions. Act-Rules GST - States Thu, 11 May 2017 10:41:39 +0530 https://www.taxtmi.com/acts?id=24916