my taxable turnover is 1.5 cr
Interest on FD is 4 cr
Interest on partnership firm capital 1 cr
weather I'm required to apportion itc/reverse proportionate itc under section 17 of cgst act 2017?
As interest is exempt under gst as per exemption list.
Menu
Apportionment of itc for interest on FD
Replies (1)
You need to reverse the ITC, only if, it is common between taxable and exempt turnover.
However if you have inputs which is specifically towards your taxable turnover, then you need not reverse.
However if you have inputs which is specifically towards your taxable turnover, then you need not reverse.
Recent Threads
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
- Purchase of business
- Refund of ITC for advance paid to overseas supplie
- Clubbing query (when gifts given to multiple fami
- Transfer Pricing Audit Upload Form 3CEB - Income T
- Only a Few Pages Indexed by Google Despite Sitemap
Related Threads
CAclubindia
