https://www.taxtmi.com/forum/issue?id=117402 This note concerns the statutory mechanism for reversal of common input tax credit by reference to the ratio of exempt turnover to total turnover, the coexistence of monthly apportionment and a binding annual recomputation finalised by the September return, and whether annual recomputation requires recalculation of each month's reversal or may be effected by applying a single annual ratio, plus consequences when the September adjustment opportunity has passed. en-us Thu, 05 Aug 2021 11:47:07 +0530 Thu, 23 Jan 2025 15:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117402 This note concerns the statutory mechanism for reversal of common input tax credit by reference to the ratio of exempt turnover to total turnover, the coexistence of monthly apportionment and a binding annual recomputation finalised by the September return, and whether annual recomputation requires recalculation of each month's reversal or may be effected by applying a single annual ratio, plus consequences when the September adjustment opportunity has passed. Discussion-Forum GST Thu, 05 Aug 2021 11:47:07 +0530 https://www.taxtmi.com/forum/issue?id=117402