https://www.taxtmi.com/circulars?id=65736 Tax paid on deemed export supplies was made available as ITC solely to enable online refund claims; such ITC is not ITC under Chapter V, is not subject to blocked credit provisions, and is excluded from "Net ITC" for refund computations. The proviso allowing credit where an employer is legally obliged to provide goods or services applies to the entire blocked credit clause, and the leasing restriction is limited to motor vehicles, vessels and aircraft. Perquisites under employment contracts are not taxable supplies. Electronic credit ledger funds may be used only for output tax (excluding reverse charge), not for interest, penalties, fees or erroneous cash refunds. en-us Fri, 08 Jul 2022 00:00:00 +0530 Wed, 13 Jul 2022 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65736 Tax paid on deemed export supplies was made available as ITC solely to enable online refund claims; such ITC is not ITC under Chapter V, is not subject to blocked credit provisions, and is excluded from "Net ITC" for refund computations. The proviso allowing credit where an employer is legally obliged to provide goods or services applies to the entire blocked credit clause, and the leasing restriction is limited to motor vehicles, vessels and aircraft. Perquisites under employment contracts are not taxable supplies. Electronic credit ledger funds may be used only for output tax (excluding reverse charge), not for interest, penalties, fees or erroneous cash refunds. Circulars GST - States Fri, 08 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65736