https://www.taxtmi.com/acts?id=30557 Input tax credit is restricted to the portion attributable to business or to taxable supplies where supplies are partly exempt; exempt supplies are prescribed and include reverse charge supplies, transactions in securities, sale of land and certain sales of buildings. A banking company or financial institution may either follow the apportionment rule or elect monthly to claim fifty per cent of eligible credit on inputs, capital goods and input services with the balance lapsing; various categories of credits are expressly unavailable, including specified motor vehicle uses, personal and employee benefits, construction-related inputs, and certain tax-paid supplies. en-us Wed, 26 Jul 2017 10:25:18 +0530 Thu, 10 Aug 2017 10:54:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=30557 Input tax credit is restricted to the portion attributable to business or to taxable supplies where supplies are partly exempt; exempt supplies are prescribed and include reverse charge supplies, transactions in securities, sale of land and certain sales of buildings. A banking company or financial institution may either follow the apportionment rule or elect monthly to claim fifty per cent of eligible credit on inputs, capital goods and input services with the balance lapsing; various categories of credits are expressly unavailable, including specified motor vehicle uses, personal and employee benefits, construction-related inputs, and certain tax-paid supplies. Act-Rules GST - States Wed, 26 Jul 2017 10:25:18 +0530 https://www.taxtmi.com/acts?id=30557