Home Forum Goods and Services Tax - GST Month 3 2018 2018 (3) This
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ITC Reversal as per Rule 42 - Goods and Services Tax - GSTExtract If more than one business vertical are under same GSTIN itself, while applying Rule 42 for ITC Reversal- Total Turnover of entire GSTIN to be taken or same can be split into segment wise also ? For ex:- Say, under one GSTIN there exists three Business Vertical - Hotel, Courier Plastic. Hotel vertical has taxable and exempt supplies to calculate ITC Reversal for common input credit can we use the following Common ITC (of Hotel Vertical) * Exempted Supply in Hotel Vertical ---------------------------------------------------------------------------------------------- Total Supply of Hotel Vertical Or We have to consider the Total supply of all vertical (for the denominator) Experts advice Please.
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