Whether itc of exempt supply can be claimed with taxable supply..
I. E having two business
One is taxable and another is exempt
8 Replies
GST Consultant
(Tax Consultant)
(894 Points)
Replied 10 June 2018
no, itc can not be claimed if outward supply is exempt
Mohan Bagalkot
(Tax Consultant)
(233 Points)
Replied 10 June 2018
Hope there is a provision for proportionate ITC Claim for Taxable & Exempt outward supplies.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 10 June 2018
There is Rule & Act in this regard:
Kindly refer Rule 42, & Section 17 CGST Act
Kindly refer Rule 42, & Section 17 CGST Act
MURALI NADIMINTI
(502 Points)
Replied 10 June 2018
As per Rule 42, but common credit should be reversed to the extent exempted sales.
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