Is there any negative list on which ITC is not permitted?

Question 29 – Draft-Bills-Reports – Input Tax Credit – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 29 – Q 29. Is there any negative list on which ITC is not permitted? Ans. Section 16 (9) of the MGL provides for the negative list with respect to the admissibility of ITC. It has been provided that the ITC on following items cannot be availed: (a) motor vehicles, except when they are supplied in the usual course of business or are used for providing the following taxable services- (i) transportation of passengers, or (ii) transportation of goods, or (iii) imparting training on motor driving skills; (b) goods and / or services provided in relation to food and beverages, outdoor catering, beauty treatment, health services, c

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =