https://www.taxtmi.com/acts?id=29056 Section 17 restricts input tax credit to the portion attributable to business use or to taxable (including zero-rated) supplies where supplies are partly exempt; exempts specified items from credit (including reverse-charge supplies, securities, land and certain buildings). Banking and financial institutions may elect a monthly fifty per cent credit rule with conditions. Sub-section (5) enumerates blocked credits-motor vehicles (limited exceptions), specified services and goods, construction-related inputs for immovable property (other than plant and machinery), composition-scheme supplies, supplies to non-residents (except imports), personal consumption, lost/disposed goods, and taxes recovered under specified provisions. The Government may prescribe attribution methodology; "plant and machinery" is defined with exclusions. en-us Sat, 01 Jul 2017 18:28:58 +0530 Tue, 08 Aug 2017 11:47:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=29056 Section 17 restricts input tax credit to the portion attributable to business use or to taxable (including zero-rated) supplies where supplies are partly exempt; exempts specified items from credit (including reverse-charge supplies, securities, land and certain buildings). Banking and financial institutions may elect a monthly fifty per cent credit rule with conditions. Sub-section (5) enumerates blocked credits-motor vehicles (limited exceptions), specified services and goods, construction-related inputs for immovable property (other than plant and machinery), composition-scheme supplies, supplies to non-residents (except imports), personal consumption, lost/disposed goods, and taxes recovered under specified provisions. The Government may prescribe attribution methodology; "plant and machinery" is defined with exclusions. Act-Rules GST - States Sat, 01 Jul 2017 18:28:58 +0530 https://www.taxtmi.com/acts?id=29056