https://www.taxtmi.com/article/detailed?id=10728 The article contends that reversal of input tax credit under Rule 42 is not required for the one third portion of consideration excluded from GST as attributable to the undivided share of land. It relies on the absence of express inclusion of undivided share of land within the expanded definition of exempt supplies, the CGST Rules' linkage of exempt land value to stamp duty (which is not separately assigned for undivided shares in flat sales), and the incidental nature of the land share such that common input services would not have been used in lesser quantity if that incidental element did not exist. en-us Fri, 30 Sep 2022 09:45:23 +0530 Fri, 30 Sep 2022 09:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10728 The article contends that reversal of input tax credit under Rule 42 is not required for the one third portion of consideration excluded from GST as attributable to the undivided share of land. It relies on the absence of express inclusion of undivided share of land within the expanded definition of exempt supplies, the CGST Rules' linkage of exempt land value to stamp duty (which is not separately assigned for undivided shares in flat sales), and the incidental nature of the land share such that common input services would not have been used in lesser quantity if that incidental element did not exist. Articles Goods and Services Tax - GST Fri, 30 Sep 2022 09:45:23 +0530 https://www.taxtmi.com/article/detailed?id=10728