Input tax credit availability in transitional and special circumstances is allowed subject to prescribed reductions and conditions.

Availability of input tax credit is allowed in defined special circumstances: registration within thirty days or registration under specified provisions permits credit for inputs and stock as of the day before liability or registration; cessation of composition or conversion from exempt to taxable status permits credit for inputs and capital goods, subject to prescribed reductions; claims are barred after one year from invoice; unutilised credit transfers on change of constitution; switching to composition or becoming wholly exempt requires payment equal to credit on stock and capital goods (after prescribed reductions); disposal of capital goods requires payment equal to adjusted credit or tax on transaction value, whichever is higher.

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