🧮 Formula sheet
- 1.ITC Available (Sec 17(2)) = Common ITC × (Taxable Turnover / Total Turnover)
- 2.Reversal under Rule 42 (inputs/input services), Rule 43 (capital goods over 60 months)
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Taxation (Income Tax + GST)
Ch 5 · GST — Input Tax Credit (Sec 16-18)
5 concept points · 2 formulas · 4 exam-critical points.