AAR: Allows proportionate ITC claim for installation of Renewable Power Generation Plant under REC Scheme

Tamil Nadu AAR holds that the Applicant is eligible for proportionate claim of ITC as per Sec. 17(2) of the CGST Act r/w Rules 42 and 43 of the CGST Rules, 2017 on the goods or services used in installation of Renewable Power Generation Plant under the Renewable Energy Certificate (REC) scheme; The Applicant sought the Authority’s ruling on whether it can consider solar panels and their installation cost as 'Capital goods used for both taxable and exempt purpose' and claim ...