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Apportionment of Input tax Credit (Section 17 of CGST Act)
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....used by the registered person * partly for the purpose of any business and partly for other purposes, * the amount of credit shall be restricted to so much of the input tax as is attributable to the purposes of his business. * As per section 17(6) of CGST Act, The Government may prescribe the manner in which the credit referred to in sections 17(1) of CGST Act may be attributed. (b) Where ....
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....rvices or both which may be wholly exempt from tax, * Non taxable supply, * Supplies on which the recipient is liable to pay tax on reverse charge basis, * Transaction in securities (value of security for GST shall be taken as 1% of sale value of such security), * sale of land, (value of sale of land for GST shall be taken as the same as adopted for the purpose of paying stamp duty) , * ....
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....ules] A banking company or a financial institution including a non-banking financial company, engaged in supplying services by way of accepting deposits, extending loans or advances shall have the option to either * comply with the provisions of section 17(2) of CGST Act regarding proportionate availment, or * avail of, every month, an amount equal to 50% of the eligible input tax credit on i....
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....be the manner in which the credit referred to in sections 17(1) and (2) of CGST Act may be attributed. * Manner of determination of ITC in respect of inputs and inputs services and reversal thereof under sections 17(1) and (2) of CGST Act - Rule 42 of CGST Rules. * Manner of determination of ITC in respect of capital goods and reversal thereof under section 17(1) and (2) of CGST Act - Rules 43....