https://www.taxtmi.com/highlights?id=75445 Admissibility of input tax credit - inward supply of services by way of License Fee Recovery (LFR) on leasing of pumps along with the equipment - The AAR concluded that the applicant, engaged in both taxable and exempt supplies, could only claim proportionate ITC based on taxable supplies. - The Authority ruled that the applicant could claim only proportionate ITC for leasing services based on taxable supplies, as per CGST Act provisions and rules. en-us Wed, 06 Mar 2024 09:33:24 +0530 Wed, 06 Mar 2024 09:33:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75445 Admissibility of input tax credit - inward supply of services by way of License Fee Recovery (LFR) on leasing of pumps along with the equipment - The AAR concluded that the applicant, engaged in both taxable and exempt supplies, could only claim proportionate ITC based on taxable supplies. - The Authority ruled that the applicant could claim only proportionate ITC for leasing services based on taxable supplies, as per CGST Act provisions and rules. Highlights GST Wed, 06 Mar 2024 09:33:24 +0530 https://www.taxtmi.com/highlights?id=75445