https://www.taxtmi.com/acts?id=29771 Input tax credit is available only to the extent inputs, input services and capital goods are attributable to business or to taxable supplies; inputs used partly for exempt supplies are restricted to the taxable-attributable portion. Specific supplies are blocked from credit, including most motor vehicles, certain hospitality and personal services, works contracts and construction-related inputs for immovable property (other than plant and machinery), composition-scheme supplies, non-resident receipts (except imports), personal use, lost or disposed goods, and amounts paid under specified recovery provisions. Banks and financial institutions may elect a monthly fixed proportion method instead of the general apportionment rule. The Government may prescribe attribution methods and defines plant and machinery for these Chapters. en-us Wed, 05 Jul 2017 14:43:44 +0530 Mon, 31 Jul 2017 16:32:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=29771 Input tax credit is available only to the extent inputs, input services and capital goods are attributable to business or to taxable supplies; inputs used partly for exempt supplies are restricted to the taxable-attributable portion. Specific supplies are blocked from credit, including most motor vehicles, certain hospitality and personal services, works contracts and construction-related inputs for immovable property (other than plant and machinery), composition-scheme supplies, non-resident receipts (except imports), personal use, lost or disposed goods, and amounts paid under specified recovery provisions. Banks and financial institutions may elect a monthly fixed proportion method instead of the general apportionment rule. The Government may prescribe attribution methods and defines plant and machinery for these Chapters. Act-Rules GST - States Wed, 05 Jul 2017 14:43:44 +0530 https://www.taxtmi.com/acts?id=29771