If input tax credit is allowed only in respect of goods or services or both for effecting taxable supplies, would it not lead to loss of input tax credit on exempt supplies when exported?

Question 21 – Draft-Bills-Reports – Input Tax Credit – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 21 – Q 21. If input tax credit is allowed only in respect of goods or services or both for effecting taxable supplies, would it not lead to loss of input tax credit on exempt supplies when exported? Ans. Zero-rated supplies have been covered within taxable supplies for the purpose of allowing input tax credit. The scope of zero-rated supply is provided in the Integrated Goods and Services

= = = = = = = =

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

= = = = = = = =