https://www.taxtmi.com/forum/issue?id=112639 ITC is allowable only for inputs used in taxable supplies and must be proportionately reversed for exempt supplies; inputs utilised post-occupancy that pertain to exempt sales should be treated as common ITC and apportioned under the statutory reversal formula. Corporate input services (audit fees, rent, AMC, security, retainer fees) relating to exempt supplies require proportionate reversal, and practitioners are advised to capture ITC at invoice level and apply apportionment where supplies are partly taxable and partly exempt. A contested issue remains whether timing of receipt of consideration alone converts a construction service into an exempt sale. en-us Sat, 19 Aug 2017 13:10:13 +0530 Thu, 23 Jan 2025 15:55:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112639 ITC is allowable only for inputs used in taxable supplies and must be proportionately reversed for exempt supplies; inputs utilised post-occupancy that pertain to exempt sales should be treated as common ITC and apportioned under the statutory reversal formula. Corporate input services (audit fees, rent, AMC, security, retainer fees) relating to exempt supplies require proportionate reversal, and practitioners are advised to capture ITC at invoice level and apply apportionment where supplies are partly taxable and partly exempt. A contested issue remains whether timing of receipt of consideration alone converts a construction service into an exempt sale. Discussion-Forum GST Sat, 19 Aug 2017 13:10:13 +0530 https://www.taxtmi.com/forum/issue?id=112639