https://www.taxtmi.com/acts?id=29092 Input tax credit must be apportioned where goods or services are used partly for business and partly for other purposes, and where used partly for taxable (including zero-rated) and partly for exempt supplies credit is limited to the portion attributable to taxable supplies; exempt supplies include reverse charge transactions, securities and sale of land. Specific supplies are blocked from credit (e.g., most motor vehicles, specified personal and employee-related services, works contracts and construction of immovable property other than plant and machinery), with special rules for banks and financial institutions to elect a monthly partial claim and a prescribed attribution method, and a definition of plant and machinery for these Chapters. en-us Mon, 03 Jul 2017 12:35:09 +0530 Thu, 20 Jul 2017 14:23:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=29092 Input tax credit must be apportioned where goods or services are used partly for business and partly for other purposes, and where used partly for taxable (including zero-rated) and partly for exempt supplies credit is limited to the portion attributable to taxable supplies; exempt supplies include reverse charge transactions, securities and sale of land. Specific supplies are blocked from credit (e.g., most motor vehicles, specified personal and employee-related services, works contracts and construction of immovable property other than plant and machinery), with special rules for banks and financial institutions to elect a monthly partial claim and a prescribed attribution method, and a definition of plant and machinery for these Chapters. Act-Rules GST - States Mon, 03 Jul 2017 12:35:09 +0530 https://www.taxtmi.com/acts?id=29092