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Section 17 - Apportionment of credit and blocked credits. - CENTRAL GOODS AND SERVICES TAX ACT, 2017Extract ..... xempt supply under sub-section (2) shall be such as may be prescribed, and shall include supplies on which the recipient is liable to pay tax on reverse charge basis, transactions in securities, sale of land and, subject to clause (b) of paragraph 5 of Schedule II, sale of building. 1 [ Explanation.-For the purposes of this sub-section, the expression value of exempt supply shall not include the value of activities or transactions specified in Schedule III, 3 [ except, (i) the value of activities or transactions specified in paragraph 5 of the said Schedule; and (ii) the value of such activities or transactions as may be prescribed in respect of clause (a) of paragraph 8 of the said Schedule. ] . ] (4) A banking company or a financial insti ..... x x x x x Extracts x x x x x Section 17 - Apportionment of credit and blocked credits. - CENTRAL GOODS AND SERVICES TAX ACT, 2017 x x x x x Extracts x x x x x ..... or (D) imparting training on flying such aircraft; (ii) for transportation of goods; (ab) services of general insurance, servicing, repair and maintenance in so far as they relate to motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa): Provided that the input tax credit in respect of such services shall be available- (i) where the motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa) are used for the purposes specified therein; (ii) where received by a taxable person engaged- (I) in the manufacture of such motor vehicles, vessels or aircraft; or (II) in the supply of general insurance services in respect of such motor vehicles, vessels or aircraft insured by him; (b) the following supply of go ..... x x x x x Extracts x x x x x Section 17 - Apportionment of credit and blocked credits. - CENTRAL GOODS AND SERVICES TAX ACT, 2017 x x x x x Extracts x x x x x ..... r the purposes of clauses (c) and (d), the expression construction includes re-construction, renovation, additions or alterations or repairs, to the extent of capitalisation, to the said immovable property; (e) goods or services or both on which tax has been paid under section 10; (f) goods or services or both received by a non-resident taxable person except on goods imported by him; 4 [ (fa) goods or services or both received by a taxable person, which are used or intended to be used for activities relating to his obligations under corporate social responsibility referred to in section 135 of the Companies Act, 2013 (18 of 2013); ] (g) goods or services or both used for personal consumption; (h) goods lost, stolen, destroyed, written off o ..... x x x x x Extracts x x x x x Section 17 - Apportionment of credit and blocked credits. - CENTRAL GOODS AND SERVICES TAX ACT, 2017 x x x x x Extracts x x x x x ..... tegory is used by a registered person for making an outward taxable supply of the same category of goods or services or both or as an element of a taxable composite or mixed supply; (ii) membership of a club, health and fitness centre; (iii) rent-a-cab, life insurance and health insurance except where (A) the Government notifies the services which are obligatory for an employer to provide to its employees under any law for the time being in force; or (B) such inward supply of goods or services or both of a particular category is used by a registered person for making an outward taxable supply of the same category of goods or services or both or as part of a taxable composite or mixed supply; and (iv) travel benefits extended to employees on ..... x x x x x Extracts x x x x x Section 17 - Apportionment of credit and blocked credits. - CENTRAL GOODS AND SERVICES TAX ACT, 2017 x x x x x Extracts x x x x x
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