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TMI BlogApportionment of credit and blocked creditsX X X X Extracts X X X X X X X X Extracts X X X X ..... mount of credit shall be restricted to so much of the input tax as is attributable to the purposes of his business. (2) Where the goods and / or services are used by the registered taxable person partly for effecting taxable supplies including zero-rated supplies under this Act or under the IGST Act, 2016 and partly for effecting exempt supplies under the said Acts, the amount of credit shall b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... during the remaining part of the financial year. (4) Notwithstanding anything contained in sub-section (1) of section 16 and subsection (1), (2), (3) and (4) of section 18, input tax credit shall not be available in respect of the following: (a) motor vehicles and other conveyances except when they are used (i) for making the following taxable supplies, namely:- (A) further supply of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e being in force; and (iv) travel benefits extended to employees on vacation such as leave or home travel concession. (c) works contract services when supplied for construction of immovable property, other than plant and machinery, except where it is an input service for further supply of works contract service; (d) goods or services received by a taxable person for construction of an imm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples; and (h) any tax paid in terms of sections 67, 89 or 90. (5) The Central or a State Government may, by notification issued in this behalf, prescribe the manner in which the credit referred to in sub-sections (1) and (2) above may be attributed. - - statute, statutory provisions legislation, law, en ..... X X X X Extracts X X X X X X X X Extracts X X X X
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