Question14: We are NBFC and providing services for Loan as well sale and purchase of raw material. Suggest, can we take full credit on inputs and take 50% on services used for NBFC.

Answer: From your question we understand that you are making two type of supplies one as NBFC and second as trader.    The choice of Section 17 (4) will be applicable only if you are operating as NBFC. Now you have to follow normal procedure applicable to all registered person for claiming credit Under these circumstances if you get two vertical registration then for NBFC you can take benefit of Section 17 (4) and for second registration you can follow normal procedure (Reply dt. 20/11/2017)