1 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 30 March 2021
A business may have an inward supply of input goods, input services and capital goods. Further, the inward goods and services may be used for a personal purpose or business purpose. The total input tax credit available on all such purchases is called Proportionate Credit ot Common Credit under GST. The taxpayer cannot claim the credit on the inputs used for personal purposes. Thus, the common credit should be utilized proportionately while making payment of output tax liability.
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