Reversal of ITC in case of Nil Rated Supply of Goods

Reversal of ITC in case of Nil Rated Supply of Goods https://www.taxtmi.com/forum/issue?id=119486 Reversal of input tax credit is required for nil rated supplies: credits on inputs exclusively used for nil rated sales are ineligible, and credits on common inputs and overheads must be apportioned and reversed pro rata so only the taxable proportion is retained, under the prescribed rule based apportionment framework. en-us Wed, 25 Dec 2024 12:10:38 +0530 Thu, 23 Jan 2025 14:20:35 +0530 TaxTMI RSS Generator Reversal of ITC in case of Nil Rated Supply of Goods https://www.taxtmi.com/forum/issue?id=119486 Reversal of input tax credit is required for nil rated supplies: credits on inputs exclusively used for nil rated sales are ineligible, and credits on common inputs and overheads must be apportioned and reversed pro rata so only the taxable proportion is retained, under the prescribed rule based apportionment framework. Discussion-Forum GST Wed, 25 Dec 2024 12:10:38 +0530 https://www.taxtmi.com/forum/issue?id=119486