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of <h1>Section 145 GST Law: Claim Credit for Eligible Duties on Stock Inputs with Valid Invoices and Conditions Met.</h1> Section 145 of the Model GST Law allows a registered taxable person, previously not liable for registration or engaged in the manufacture or sale of exempt goods under earlier laws, to claim credit for eligible duties and taxes on inputs held in stock on the appointed day. Conditions include the intended use of inputs for taxable supplies, eligibility for input tax credit under the new Act, possession of valid invoices, and issuance of such documents within the preceding twelve months. Credit is calculated per accounting principles, and recoverable credit is treated as tax arrears if proceedings determine it as such.
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