Duty Credit Scrips Should be Excluded from Value of Exempt Supply to Compute ITC Reversal: AAR [Read Order]

Duty Credit Scrips - Value of Exempt Supply - Exempt Supply - Compute ITC Reversal - ITC Reversal - ITC - AAR - taxscan

The Telangana State Authority for Advance Ruling (AAR) observed that the Duty Credit Scrips should be excluded from the value of exempt supply to compute Input Tax Credit (ITC) reversal. M/s. Kaveri Exports, the applicant deals in the export of cotton lint – fully pressed cotton bales and submitted that they are in receipt of…

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