AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
Determination of ITC - partly used for exempt supply and partly used for taxable supplies
X X X X Extracts X X X X
X X X X Extracts X X X X
....etermination of ITC - partly used for exempt supply and partly used for taxable supplies<br> Query (Issue) Started By: - gvenugopal g Dated:- 1-4-2019 Last Reply Date:- 1-4-2019 Goods and Services Tax....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... - GST<br>Got 3 Replies<br>GST<br>Sirs, We purchase Urad Dall (HSN # 07139091) and paid IGST (ITC), The item being partly used for manufacturing exempt supplies and remaining for taxable supplies. How....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... to adjust ITC against GST on outwards supplies in both exempted and taxable? Kindly suggest. Reply By KASTURI SETHI: The Reply: You are entitled to avail proportionate ITC. This can be illustrated....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... with the following example:- Suppose you have purchased raw material(inputs/goods) valued at ₹ 10,000/- IGST paid @5% i.e. 500/-. and two products were manufactured out of these inputs. One p....
X X X X Extracts X X X X
X X X X Extracts X X X X
....roduct of the value of ₹ 8000/- attracted CGST and SGST @ 18% (9% each) and other product value of ₹ 8000/- was exempt. Thus ratio of taxable and exempt supply is 50 : 50%.. Thus you ar....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e entitled to avail only 50% of ITC. Reply By KASTURI SETHI: The Reply: In continuous of my reply, Section 17(2) of CGST Act, 2017 refers. Reply By gvenugopal g: The Reply: Dear Kasturi Sethi Ji, ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Thank you very much for your valuable reply for the query raised by me.<br> Discussion Forum - Knowledge Sharing ....