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Banking company or Financial Institution have an option of claiming ITC...

This question belongs to Commerce GST
GST
?

Banking company or Financial Institution have an option of claiming ITC:

Answer & Solution
Correct Answer: Option A
Banking companies or financial institutions have an option for claiming the ITC on the deposits and loans or advances to comply with actual rules or claim the 50% of the total ITC available in each month and the rest will lapse.
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1 Comment
ASHISH UPADHYAY
ASHISH UPADHYAY 8 years ago
under this circumtances comply sec 17(2) or every month, an amount aqual to 50% for ITC..... AS PER SEC. 17(4) OF ITC OF CGST ACT.
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