Rule 42 of CGST Act
This query is : Open
29 December 2017
dear sir,
while calculating T4 we take credit attributable to inputs and inputs service That are exclusively for affecting supplies other than exempt?
where would credit for exclusive business use would be taken?
If not taken at T4 it would come in common credit which is not logical.
Guest
Guest
(Expert)
29 December 2017
In T4 itself credit relating to business purpose needs to be considered.
29 December 2017
But in bare act they have mentioned"ITC for affecting supplies other than exempt supplies"
if inputs are used for staff welfare where they would come as they are exclusively for business but not for affecting supplies other than exempt supplies?
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