https://www.taxtmi.com/caselaws?id=387302 The ruling mandates that the applicant must reverse the Input Tax Credit (ITC) attributable to the supply of exempt Cotton Seed Oil Cake, as per Section 17(2) of the GST Act, 2017. The ITC on Raw Cotton purchased under the Reverse Charge Mechanism is allowed, but limited to taxable supplies. Similarly, the ITC on Plastic Bags used for packing the exempt product must be reversed. No ruling was provided on the requirement to reverse ITC for past periods under Rule 42 of the CGST Rules, 2017. en-us Thu, 22 Aug 2019 00:00:00 +0530 Mon, 07 Sep 2020 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387302 The ruling mandates that the applicant must reverse the Input Tax Credit (ITC) attributable to the supply of exempt Cotton Seed Oil Cake, as per Section 17(2) of the GST Act, 2017. The ITC on Raw Cotton purchased under the Reverse Charge Mechanism is allowed, but limited to taxable supplies. Similarly, the ITC on Plastic Bags used for packing the exempt product must be reversed. No ruling was provided on the requirement to reverse ITC for past periods under Rule 42 of the CGST Rules, 2017. Case-Laws GST Thu, 22 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387302