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Apportionment of credit and blocked credits

Section 17 - Draft-Bills-Reports - INPUT TAX CREDIT - MODEL GST LAW - Draft The Central / State Goods and Services Tax Act, 2016 - [November 2016] - Section 17 - 17. (1) Where the goods and/or services are used by the registered taxable person partly .....

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taxable person partly for effecting taxable supplies including zero-rated supplies under this Act or under the IGST Act, 2016 and partly for effecting exempt supplies under the said Acts, the amount of credit shall be restricted to so much of the inp .....

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section (3) of section 8. (3) A banking company or a financial institution including a non-banking financial company, engaged in supplying services by way of accepting deposits, extending loans or advances shall have the option to either comply with .....

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during the remaining part of the financial year. (4) Notwithstanding anything contained in sub-section (1) of section 16 and subsection (1), (2), (3) and (4) of section 18, input tax credit shall not be available in respect of the following: (a) moto .....

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navigating such vehicles or conveyances; (ii) for transportation of goods. (b) supply of goods and services, namely, (i) food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery except where such inward s .....

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surance, health insurance except where 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; and (iv) travel benefits extended to employees on vacation such as .....

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s received by a taxable person for construction of an immovable property on his own account, other than plant and machinery, even when used in course or furtherance of business; Explanation 1.- For the purpose of this clause, the word construction in .....

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