https://www.taxtmi.com/circulars?id=66109 Tax paid on deemed export supplies may be placed in recipients' electronic credit ledgers solely to enable refund claims but does not constitute ITC under Chapter V and is excluded from "Net ITC" for refund computations; the proviso to clause (b) of section 17(5) applies to the entire clause making credit available where goods or services are obligatory for an employer under law; "leasing" in the exclusion is limited to motor vehicles, vessels and aircraft; employment perquisites under contract are not supplies for GST; electronic credit ledger balances may be used only for output tax (excluding reverse charge) while the electronic cash ledger may meet tax, interest, penalty and other liabilities. en-us Thu, 10 Nov 2022 00:00:00 +0530 Sat, 24 Dec 2022 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66109 Tax paid on deemed export supplies may be placed in recipients' electronic credit ledgers solely to enable refund claims but does not constitute ITC under Chapter V and is excluded from "Net ITC" for refund computations; the proviso to clause (b) of section 17(5) applies to the entire clause making credit available where goods or services are obligatory for an employer under law; "leasing" in the exclusion is limited to motor vehicles, vessels and aircraft; employment perquisites under contract are not supplies for GST; electronic credit ledger balances may be used only for output tax (excluding reverse charge) while the electronic cash ledger may meet tax, interest, penalty and other liabilities. Circulars GST - States Thu, 10 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66109