https://www.taxtmi.com/manuals?id=7949 Rule 42 prescribes attribution of input tax credit where inputs or input services are partly used for taxable, exempt or non-business purposes by identifying T, segregating T1, T2, T3 and T4, computing common credit C2 and final eligible credit C3 after applying the exempt-supplies ratio (E/F) and a fixed five percent non-business allocation; reporting and reversals are to be made in specified returns with final annual or project-level reconciliation by the September return and interest where reversals are required. en-us Wed, 06 Aug 2025 13:22:00 +0530 Mon, 11 Aug 2025 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=7949 Rule 42 prescribes attribution of input tax credit where inputs or input services are partly used for taxable, exempt or non-business purposes by identifying T, segregating T1, T2, T3 and T4, computing common credit C2 and final eligible credit C3 after applying the exempt-supplies ratio (E/F) and a fixed five percent non-business allocation; reporting and reversals are to be made in specified returns with final annual or project-level reconciliation by the September return and interest where reversals are required. Manuals GST Wed, 06 Aug 2025 13:22:00 +0530 https://www.taxtmi.com/manuals?id=7949