Rule 43 and Rule 89 GST amendment on 23-3-2020 | GST ITC apportionement ...

Rule 43 which talks about apportionment of ITC where capital goods are used both for exempt supply and taxable supply. Where capital goods which was initially used for exempted supply are subsequently used for both taxable and exempt supply. In this case GST ITC of exempt supply period shall be added to output tax called Tie and whole GST ITC shall be claimed as credit called Tc. The whole ITC shall be divided by 60 to be called as Tm. This Tm shall be apportioned. In rule 89 export turnover cannot exceed 1.5 times of domestic supply of that goods which has exported.

These are two questions which are asked in CA Final RTP Nov 2020 attempt.