https://www.taxtmi.com/article/detailed?id=8523 Section 17(2) of the CGST Act requires that where supplies are partly for taxable and partly for exempt purposes, input tax credit must be restricted to the portion attributable to taxable supplies. If inputs are separately identifiable, credit attributable to exempt supplies is disallowed; if not, the proportionate reversal formula applies: (Total Input Tax x Value of Exempt Supplies) / Total Turnover, with the reversed amount blocked and the remainder available as eligible credit. en-us Fri, 31 May 2019 07:59:01 +0530 Fri, 31 May 2019 07:59:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8523 Section 17(2) of the CGST Act requires that where supplies are partly for taxable and partly for exempt purposes, input tax credit must be restricted to the portion attributable to taxable supplies. If inputs are separately identifiable, credit attributable to exempt supplies is disallowed; if not, the proportionate reversal formula applies: (Total Input Tax x Value of Exempt Supplies) / Total Turnover, with the reversed amount blocked and the remainder available as eligible credit. Articles Goods and Services Tax - GST Fri, 31 May 2019 07:59:01 +0530 https://www.taxtmi.com/article/detailed?id=8523