https://www.taxtmi.com/acts?id=29413 Credit is restricted where goods or services are used partly for business or partly for taxable and exempt supplies; exempt supply value is prescribed and includes reverse charge supplies, securities, sale of land and certain buildings. Specific items are blocked from credit (vehicles except limited uses, certain hospitality and insurance services, works contract and construction for immovable property, composition scheme supplies, non resident inward supplies, personal consumption, losses, gifts/samples, and specified penalty taxes). Banks and financial institutions have an optional monthly mechanism to claim a fixed proportion of eligible credit subject to conditions and irrevocability; attribution and definition of plant and machinery are prescribed. en-us Tue, 04 Jul 2017 15:00:22 +0530 Thu, 27 Jul 2017 16:33:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=29413 Credit is restricted where goods or services are used partly for business or partly for taxable and exempt supplies; exempt supply value is prescribed and includes reverse charge supplies, securities, sale of land and certain buildings. Specific items are blocked from credit (vehicles except limited uses, certain hospitality and insurance services, works contract and construction for immovable property, composition scheme supplies, non resident inward supplies, personal consumption, losses, gifts/samples, and specified penalty taxes). Banks and financial institutions have an optional monthly mechanism to claim a fixed proportion of eligible credit subject to conditions and irrevocability; attribution and definition of plant and machinery are prescribed. Act-Rules GST - States Tue, 04 Jul 2017 15:00:22 +0530 https://www.taxtmi.com/acts?id=29413