https://www.taxtmi.com/acts?id=28653 Input tax credit is restricted to the portion attributable to business use or to taxable supplies where inputs are used partly for taxable and partly for exempt supplies; prescribed rules define exempt supply value and list inclusions. Banking and financial institutions may opt to follow general apportionment or claim fifty per cent of eligible credit monthly under conditions. Credit is blocked for specified items and uses, including most motor vehicles, certain hospitality and personal services, works contracts and construction of immovable property (subject to capitalisation), composition-scheme supplies, non-resident inward supplies (except imports), personal consumption, lost or disposed goods, and tax recovered under specified provisions, while the Government may prescribe attribution methodology and defines "plant and machinery" with exclusions. en-us Fri, 30 Jun 2017 14:08:38 +0530 Wed, 19 Jul 2017 11:26:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=28653 Input tax credit is restricted to the portion attributable to business use or to taxable supplies where inputs are used partly for taxable and partly for exempt supplies; prescribed rules define exempt supply value and list inclusions. Banking and financial institutions may opt to follow general apportionment or claim fifty per cent of eligible credit monthly under conditions. Credit is blocked for specified items and uses, including most motor vehicles, certain hospitality and personal services, works contracts and construction of immovable property (subject to capitalisation), composition-scheme supplies, non-resident inward supplies (except imports), personal consumption, lost or disposed goods, and tax recovered under specified provisions, while the Government may prescribe attribution methodology and defines "plant and machinery" with exclusions. Act-Rules GST - States Fri, 30 Jun 2017 14:08:38 +0530 https://www.taxtmi.com/acts?id=28653