Sir/ Madam,
How to calculate input tax credit in gst at the time of exempted and taxable outward supply for eg.exempted supply 2L and Taxable supply 3L, opening input in Igst 1L this month igst 50K, cgst 25k, sgst 25k pls clarify the doubt sir
How to calculate input tax credit in gst at the time of exempted and taxable outward supply for eg.exempted supply 2L and Taxable supply 3L, opening input in Igst 1L this month igst 50K, cgst 25k, sgst 25k pls clarify the doubt sir
you can claim the ITC used of inputs used for taxable supply.
you can not claim the ITC used of goods used in supply of exempted products, you can find ITC of exempt goods by based on proportionate of turnover
ITC (exempted supply) = (Exempted T.O * Common credit) / Total T.O
