Rule 3 – Final Rules (Draft) – Input Tax Credit – GST – Input Tax Credit – Final Draft Rules 18-5-2017 – Rule 3 – 3. Claim of credit by a banking company or a financial institution A banking company or a financial institution, including a non-banking financial company, engaged in supply of services by way of accepting deposits or extending loans or advances that chooses not to comply with the provisions of sub-section (2) of section 17, in accordance with the option permitted under sub-section (4) of that section, shall follow the procedure specified below – (a) the said company or institution shall not avail the credit of,- (i) tax paid on inputs and input services that are used for non-business purposes,
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