What would be input tax eligibility in case where the goods and/or services supplied by a registered taxable person become absolutely exempt?

Question 11 – Draft-Bills-Reports – Input Tax Credit – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 11 – Q 11. What would be input tax eligibility in case where the goods and/or services supplied by a registered taxable person become absolutely exempt? Ans. As per section 16(12) of the MGL, the registered taxable person who supplies goods and / or services which become absolutely exempt, has to pay an amount equivalent to the input tax credit in respect of inputs held in stock

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