https://www.taxtmi.com/caselaws?id=406017 Input tax credit on capital goods used for both taxable manufacturing and non-taxable job work had to be restricted by proportionate apportionment under the Act and Rules. Where capital goods were employed for mixed purposes, the statutory scheme required the non-deductible element to be computed under the prescribed formula, and full credit was not available merely because the goods were acquired for business use. The text states that Rule 133(c) expressly directed application of the Rule 131 formula in such cases, confirming that mixed use triggered a partial reversal of credit. en-us Fri, 12 Mar 2021 00:00:00 +0530 Wed, 16 Jun 2021 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406017 Input tax credit on capital goods used for both taxable manufacturing and non-taxable job work had to be restricted by proportionate apportionment under the Act and Rules. Where capital goods were employed for mixed purposes, the statutory scheme required the non-deductible element to be computed under the prescribed formula, and full credit was not available merely because the goods were acquired for business use. The text states that Rule 133(c) expressly directed application of the Rule 131 formula in such cases, confirming that mixed use triggered a partial reversal of credit. Case-Laws VAT and Sales Tax Fri, 12 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406017