https://www.taxtmi.com/circulars?id=66401 Tax paid on deemed exports is made available as ITC solely to enable portal refund claims but is not ITC under Chapter V and thus not subject to section 17 restrictions or included in "Net ITC" for refund calculations. The proviso allowing ITC where an employer is legally obliged to provide goods or services applies to the whole clause restricting ITC; "leasing" therein means only leasing of motor vehicles, vessels and aircraft. Employer perquisites under employment contracts are not supplies for GST. Electronic credit ledger funds may be used only for output tax (excluding reverse charge) and not for interest, penalties or cash refunds; electronic cash ledger funds may be used for tax, interest, penalties and fees. en-us Tue, 12 Jul 2022 00:00:00 +0530 Mon, 12 Jun 2023 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66401 Tax paid on deemed exports is made available as ITC solely to enable portal refund claims but is not ITC under Chapter V and thus not subject to section 17 restrictions or included in "Net ITC" for refund calculations. The proviso allowing ITC where an employer is legally obliged to provide goods or services applies to the whole clause restricting ITC; "leasing" therein means only leasing of motor vehicles, vessels and aircraft. Employer perquisites under employment contracts are not supplies for GST. Electronic credit ledger funds may be used only for output tax (excluding reverse charge) and not for interest, penalties or cash refunds; electronic cash ledger funds may be used for tax, interest, penalties and fees. Circulars GST - States Tue, 12 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66401