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Reversal of ITC attributable exempt supplies under Rule 42/43 of the CGST Rules, 2017-Simplified

Reversal Of ITC Attributable Exempt Supplies Under Rule 42/43 Of The CGST Rules, 2017-Simplified

Sec 17(2) of the CGST Act, 2017 provides that where the goods or services are used partly for effecting taxable supplies (including zero rated) and partly for exempt/ non-business use then the amount of credit as attributable to Exempt Supplies or non-business use shall be reversed as per Rule 42/43 of the CGST Rules, 2017.



This post first appeared on Tax Guru, please read the originial post: here

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Reversal of ITC attributable exempt supplies under Rule 42/43 of the CGST Rules, 2017-Simplified

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