Input tax credit reversal required where supplies become absolutely exempt, triggering payment and lapse of electronic credit ledger. Where supplies by a registered taxable person become absolutely exempt, the supplier must pay an amount equal to the input tax credit in respect of inputs held in stock and inputs contained in semi finished or finished goods on the day immediately preceding the exemption; after payment any remaining balance in the electronic credit ledger lapses, and the amount payable is to be calculated in accordance with GAAP.