Input credit in cases where output is Exempt under GST (not zero rated)
Query (Issue) Started By: – Ankur Jain Dated:- 23-9-2016 Last Reply Date:- 24-9-2016 Goods and Services Tax – GST
Got 6 Replies
GST
I believe that it would be permissible to claim input credit even when the output is zero rated under GST.
\nHowever, what is the proposal on input credit when output is exempt from GST, not zero rated? Please advise.
\nThe question is in the context of books, which are exempt from indirect taxes under the present tax regimes, namely Service Tax and VAT. There is no clarity as of now whether books would be exempt or NIL rated in the GST regime.
\nReply By MARIAPPAN GOVINDARAJAN:
\nThe Reply:
\nWhatever it may be, we have to wait till<\/p>\n
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