Rule 42 and 43 Input credit reversal, Goods and Services Tax - GST

[SANJAY JAIN]

Whether Interest income and schedule III supply will be considered as exempt supply for the purpose of reversal of common input credit under Rule 42 and Rule 43.

Thanks and Regards,

Sanjay Jain

Posts / Replies

[Nandan Khambete]

Amendment applicable from 1.2.19. So reversal is applicable till 31.1.19.

[Nandan Khambete]

Small correction.It is still exempt supply. But Interest income will be considered for reversal upto 22.01.2018 only.