Rule 43 prescribes the method for determining eligible ITC and calculating reversal relating to capital goods that are used partly for taxable supplies and partly for exempt supplies. The rule is read together with Section 17(1), 17(2), and 17(5) of…
Rule 42 of the CGST Rules, read with Section 17(1), 17(2) and 17(5) of the CGST Act, prescribes the mechanism for reversing Input Tax Credit when inputs or input services are used partly for taxable supplies and partly for exempt…
What is DRC Forms DRC forms are official Demand, Recovery and Compliance forms prescribed under the CGST Rules, 2017, mainly Chapter XVIII dealing with Demands and Recovery. They are used by the department and taxpayers for issuing notices, replying to…