Determination of ITC - partly used for exempt supply and partly used for taxable supplies

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..... Sirs, We purchase Urad Dall (HSN # 07139091) and paid IGST (ITC), The item being partly used for manufacturing exempt supplies and remaining for taxable supplies. How to adjust ITC against GST on outw .....

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..... ards supplies in both exempted and taxable? Kindly suggest. - Reply By KASTURI SETHI - The Reply = You are entitled to avail proportionate ITC. This can be illustrated with the following e .....

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..... xample:- Suppose you have purchased raw material(inputs/goods) valued at ₹ 10,000/- IGST paid @5% i.e. 500/-. and two products were manufactured out of these inputs. One product of the .....

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..... value of ₹ 8000/- attracted CGST and SGST @ 18% (9% each) and other product value of ₹ 8000/- was exempt. Thus ratio of taxable and exempt supply is 50 : 50%.. Thus you are .....

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..... entitled to avail only 50% of ITC. - Reply By KASTURI SETHI - The Reply = In continuous of my reply, Section 17(2) of CGST Act, 2017 refers. - Reply By gvenugopal g - The Reply = Dear Kastur .....

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..... i Sethi Ji, Thank you very much for your valuable reply for the query raised by me. - Determination of ITC - partly used for exempt supply and partly used for taxable supplies - Query Started By: - .....

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..... gvenugopal g Dated:- 1-4-2019 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanageme .....

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..... ntindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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