https://www.taxtmi.com/manuals?id=1934 Apportionment under Section 17 restricts ITC where inputs are used partly for business and partly for other purposes or for both taxable and exempt supplies; credit must be attributed to taxable use. Section 17(3) defines value of exempt supply to include nil-rated, wholly exempt, non-taxable supplies, reverse-charge supplies, specified securities transactions and certain land and building sales. Banking and similar financial entities may opt for proportionate availment or a monthly fifty-percent claim with lapse of the remainder. Section 17(5) lists blocked credits; Rules 42 and 43 set attribution and reversal mechanics. A circular exempts certain e-commerce operator ITC reversals under section 9(5). en-us Tue, 24 Jan 2023 16:41:00 +0530 Fri, 03 Jan 2025 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1934 Apportionment under Section 17 restricts ITC where inputs are used partly for business and partly for other purposes or for both taxable and exempt supplies; credit must be attributed to taxable use. Section 17(3) defines value of exempt supply to include nil-rated, wholly exempt, non-taxable supplies, reverse-charge supplies, specified securities transactions and certain land and building sales. Banking and similar financial entities may opt for proportionate availment or a monthly fifty-percent claim with lapse of the remainder. Section 17(5) lists blocked credits; Rules 42 and 43 set attribution and reversal mechanics. A circular exempts certain e-commerce operator ITC reversals under section 9(5). Manuals GST Tue, 24 Jan 2023 16:41:00 +0530 https://www.taxtmi.com/manuals?id=1934