Just wanted to clear one doubt...
E.g Mr X supplies 3 exempt products(A,B,C). On 4th of june, product A and B becomes taxable and Mr X has an input of 2lakhs(tax) as on 3rd june.
So as per section 18 Mr X can take the credit of 2 lakh.
My question is that, as product A and B became taxable whereas product c is exempt, whether we have to apply apportionment provision of section 17 or take the full credit of 2 lakh ?
CAclubindia
