https://www.taxtmi.com/acts?id=25750 Input tax credit is restricted to the portion attributable to business use or to taxable supplies when inputs serve both taxable and exempt purposes; exempt supplies include transactions subject to reverse charge, securities, and certain land and building transfers. A detailed list of blocked credits disallows credit for specified vehicles, hospitality and personal services, works contracts and construction for own account, composition-scheme supplies, non-resident procurements (except imports), personal consumption, lost or gifted goods, and tax paid under recovery or penalty provisions. Banking and financial institutions may elect a monthly fifty percent credit option subject to conditions, and the Government may prescribe attribution methods. en-us Sat, 17 Jun 2017 10:48:35 +0530 Wed, 28 Jun 2017 16:00:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=25750 Input tax credit is restricted to the portion attributable to business use or to taxable supplies when inputs serve both taxable and exempt purposes; exempt supplies include transactions subject to reverse charge, securities, and certain land and building transfers. A detailed list of blocked credits disallows credit for specified vehicles, hospitality and personal services, works contracts and construction for own account, composition-scheme supplies, non-resident procurements (except imports), personal consumption, lost or gifted goods, and tax paid under recovery or penalty provisions. Banking and financial institutions may elect a monthly fifty percent credit option subject to conditions, and the Government may prescribe attribution methods. Act-Rules GST - States Sat, 17 Jun 2017 10:48:35 +0530 https://www.taxtmi.com/acts?id=25750