https://www.taxtmi.com/forum/issue?id=117764 Rule 42 requires reversal of Input Tax Credit where inputs are commonly used for taxable and exempt supplies; identifiable and exclusively attributable purchases for exempt supplies need not be proportionately reversed. Specific inputs procured solely for exempt supplies are wholly ineligible, while common overheads benefiting both activities require apportionment and reversal. en-us Mon, 17 Jan 2022 14:24:51 +0530 Thu, 23 Jan 2025 15:54:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117764 Rule 42 requires reversal of Input Tax Credit where inputs are commonly used for taxable and exempt supplies; identifiable and exclusively attributable purchases for exempt supplies need not be proportionately reversed. Specific inputs procured solely for exempt supplies are wholly ineligible, while common overheads benefiting both activities require apportionment and reversal. Discussion-Forum GST Mon, 17 Jan 2022 14:24:51 +0530 https://www.taxtmi.com/forum/issue?id=117764