https://www.taxtmi.com/forum/issue?id=120877 Input tax credit remaining after reversal under Rule 42 in a real estate project may be treated as eligible common credit at the GSTIN level, rather than continuing to retain project-specific identity. Once the credit attributable to exempt supplies is duly reversed, the balance ITC can be used against taxable outward liabilities arising from another project under the same GST registration, subject to eligibility and the blocked credit provisions. Accurate reversal and supporting records remain important for audit purposes. en-us Sat, 18 Apr 2026 13:27:26 +0530 Thu, 30 Apr 2026 19:02:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120877 Input tax credit remaining after reversal under Rule 42 in a real estate project may be treated as eligible common credit at the GSTIN level, rather than continuing to retain project-specific identity. Once the credit attributable to exempt supplies is duly reversed, the balance ITC can be used against taxable outward liabilities arising from another project under the same GST registration, subject to eligibility and the blocked credit provisions. Accurate reversal and supporting records remain important for audit purposes. Discussion-Forum GST Sat, 18 Apr 2026 13:27:26 +0530 https://www.taxtmi.com/forum/issue?id=120877