https://www.taxtmi.com/forum/issue?id=114196 Whether refund of unutilised Input Tax Credit on input services capitalised with capital goods for zero-rated supplies is allowable is debated. One view reads refund provisions and the Net ITC concept broadly to include credits on capitalised input services, while opposing views rely on the statutory definition of input as excluding capital goods and the refund rules limiting refunds to inputs and input services used for zero-rated supplies, thus excluding capital goods-related credits. en-us Sat, 29 Sep 2018 16:19:51 +0530 Thu, 23 Jan 2025 15:55:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114196 Whether refund of unutilised Input Tax Credit on input services capitalised with capital goods for zero-rated supplies is allowable is debated. One view reads refund provisions and the Net ITC concept broadly to include credits on capitalised input services, while opposing views rely on the statutory definition of input as excluding capital goods and the refund rules limiting refunds to inputs and input services used for zero-rated supplies, thus excluding capital goods-related credits. Discussion-Forum GST Sat, 29 Sep 2018 16:19:51 +0530 https://www.taxtmi.com/forum/issue?id=114196