Proportionate Reversal of ITC, Goods and Services Tax - GST

[Kaustubh Karandikar]

A commercial Cooperative Society is paying municipal tax to the corporation, the land of the society being a leased land paying charges to district collector etc. and recovering the same from the members at actuals. This being exempted supply they are not required to pay GST on it. But in that case, are they required to proportionately reverse the ITC which they are claiming?

Posts / Replies

[KASTURI SETHI]

Proportionate reversal is required.