https://www.taxtmi.com/article/detailed?id=14776 Section 17 restricts ITC to the portion attributable to business or taxable/zero rated supplies, prescribes inclusion of reverse charge receipts, securities transactions and sale of land/buildings in the exempt supply value (with certain Schedule III exclusions), and allows banks/financial institutions/NBFCs an irrevocable option to claim fifty percent of eligible ITC monthly with the balance lapsing. It sets out specific blocked credits (motor vehicles, vessels/aircraft, related insurance/repairs, specified hospitality and welfare services, works contracts for immovable property, construction on own account, composition taxed supplies, non resident receipts (except imports), CSR, personal consumption, lost or gifted goods, and certain past tax payments) and permits government rules for attribution; plant and machinery is defined for these purposes. en-us Wed, 09 Jul 2025 08:52:16 +0530 Wed, 09 Jul 2025 08:52:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14776 Section 17 restricts ITC to the portion attributable to business or taxable/zero rated supplies, prescribes inclusion of reverse charge receipts, securities transactions and sale of land/buildings in the exempt supply value (with certain Schedule III exclusions), and allows banks/financial institutions/NBFCs an irrevocable option to claim fifty percent of eligible ITC monthly with the balance lapsing. It sets out specific blocked credits (motor vehicles, vessels/aircraft, related insurance/repairs, specified hospitality and welfare services, works contracts for immovable property, construction on own account, composition taxed supplies, non resident receipts (except imports), CSR, personal consumption, lost or gifted goods, and certain past tax payments) and permits government rules for attribution; plant and machinery is defined for these purposes. Articles Goods and Services Tax - GST Wed, 09 Jul 2025 08:52:16 +0530 https://www.taxtmi.com/article/detailed?id=14776