https://www.taxtmi.com/acts?id=30360 Apportionment limits input tax credit to the portion attributable to business use or to taxable (including zero-rated) supplies when supplies are partly exempt; exempt supply valuation includes reverse charge transactions, securities and sale of land/buildings. The statute lists non-allowable blocked credits-notably most vehicles, certain hospitality and personal services, construction-related inputs for immovable property (other than plant and machinery), composition-scheme supplies, non-resident inward supplies (except imports), personal consumption, and losses-while permitting a binding monthly option for banking and financial institutions and empowering the Government to prescribe attribution methods. en-us Mon, 10 Jul 2017 14:27:23 +0530 Thu, 17 Aug 2017 18:35:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=30360 Apportionment limits input tax credit to the portion attributable to business use or to taxable (including zero-rated) supplies when supplies are partly exempt; exempt supply valuation includes reverse charge transactions, securities and sale of land/buildings. The statute lists non-allowable blocked credits-notably most vehicles, certain hospitality and personal services, construction-related inputs for immovable property (other than plant and machinery), composition-scheme supplies, non-resident inward supplies (except imports), personal consumption, and losses-while permitting a binding monthly option for banking and financial institutions and empowering the Government to prescribe attribution methods. Act-Rules GST - States Mon, 10 Jul 2017 14:27:23 +0530 https://www.taxtmi.com/acts?id=30360