https://www.taxtmi.com/forum/issue?id=118164 Proportionate reversal of input tax credit is required under Section 17(2) and Rules 42-43 only in respect of common inputs or input services used for both taxable and exempt (including nil rated) supplies; inputs purchased at nil rate or exclusively used for exempt supplies do not attract pro rata reversal. The reversal is computed on the common ITC according to the ratio of exempt turnover and performed monthly with a final annual adjustment. en-us Tue, 20 Sep 2022 11:14:36 +0530 Thu, 23 Jan 2025 15:54:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118164 Proportionate reversal of input tax credit is required under Section 17(2) and Rules 42-43 only in respect of common inputs or input services used for both taxable and exempt (including nil rated) supplies; inputs purchased at nil rate or exclusively used for exempt supplies do not attract pro rata reversal. The reversal is computed on the common ITC according to the ratio of exempt turnover and performed monthly with a final annual adjustment. Discussion-Forum GST Tue, 20 Sep 2022 11:14:36 +0530 https://www.taxtmi.com/forum/issue?id=118164