TMI BlogInput credit in cases where output is Exempt under GST (not zero rated)X X X X Extracts X X X X X X X X Extracts X X X X ..... I believe that it would be permissible to claim input credit even when the output is zero rated under GST. However, what is the proposal on input credit when output is exempt from GST, not zero rated? Please advise. The question is in the context of books, which are exempt from indirect taxes under the present tax regimes, namely Service Tax and VAT. There is no clarity as of now whether books w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ould be exempt or NIL rated in the GST regime. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Whatever it may be, we have to wait till the GST laws come into force. - Reply By YAGAY AND SUN - The Reply = For the mean while you may also refer FAQs on GST. - Reply By Ganeshan Kalyani - The Reply = When final product is exempt then the credit would not be available. But if zero rated sales th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en credit would be available. The schedule rate is not known as of now. Therefore will have to wait till such time. But in my view more or less the current tax schedule may be carry forward in GST with some edition deletion. - Reply By Ganeshan Kalyani - The Reply = https://www.taxmanagementindia.com/visitor/detail_rss_feed.asp?ID=16643 kw=frequently-asked-questions-faq-gst-released-cbec-21-09 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -2016 - Reply By Ankur Jain - The Reply = Thanks so much Ganeshan. Kind regards, Ankur - Reply By Ganeshan Kalyani - The Reply = Welcome sir. - Input credit in cases where output is Exempt under GST (not zero rated) - Query Started By: - Ankur Jain Dated:- 23-9-2016 Goods and Services Tax - GST - Got 6 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, persona ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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