whether itc can be claimed??

10 June 2018

Whether itc of exempt supply can be claimed with taxable supply..
I. E having two business
One is taxable and another is exempt

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8 Replies

GST Consultant (Tax Consultant) (894 Points)
Replied 10 June 2018

no, itc can not be claimed if outward supply is exempt

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Vinod Babu (24196 Points)
Replied 10 June 2018

No ITC cannot be taken in your case

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Mohan Bagalkot (Tax Consultant) (233 Points)
Replied 10 June 2018

Hope there is a provision for proportionate ITC Claim for Taxable & Exempt outward supplies.

Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 10 June 2018

There is Rule & Act in this regard:
Kindly refer Rule 42, & Section 17 CGST Act

1 Like

Vinod Babu (24196 Points)
Replied 10 June 2018

Agreed

yash varshney (Pro) (248 Points)
Replied 10 June 2018

Thanks everyone

MURALI NADIMINTI (502 Points)
Replied 10 June 2018

As per Rule 42, but common credit should be reversed to the extent exempted sales.

Vinod Babu (24196 Points)
Replied 10 June 2018

I also agree to views of Mr Murali.

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