https://www.taxtmi.com/acts?id=27704 Input tax credit is restricted to the portion attributable to business or to taxable (including zero-rated) supplies when inputs are used partly for exempt supplies; exempt supplies for apportionment include reverse-charge supplies, securities transactions, sale of land and, subject to Schedule II, sale of building. Banks and financial institutions may elect monthly to claim fifty percent of eligible input tax credit on inputs, capital goods and input services with the remainder lapsing, an option irrevocable for the financial year; the Government may prescribe attribution methods. en-us Mon, 26 Jun 2017 11:36:48 +0530 Tue, 27 Jun 2017 10:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=27704 Input tax credit is restricted to the portion attributable to business or to taxable (including zero-rated) supplies when inputs are used partly for exempt supplies; exempt supplies for apportionment include reverse-charge supplies, securities transactions, sale of land and, subject to Schedule II, sale of building. Banks and financial institutions may elect monthly to claim fifty percent of eligible input tax credit on inputs, capital goods and input services with the remainder lapsing, an option irrevocable for the financial year; the Government may prescribe attribution methods. Act-Rules GST - States Mon, 26 Jun 2017 11:36:48 +0530 https://www.taxtmi.com/acts?id=27704