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of <h1>Section 18 of Model GST Law: Conditions for Input Tax Credit in Special Circumstances and Business Changes Explained</h1> Section 18 of the Model GST Law outlines the conditions under which input tax credit is available in special circumstances. It allows individuals who register within 30 days of becoming liable to take credit on stock inputs. Registered persons ceasing tax payments or whose exempt supplies become taxable can claim credit on stock and capital goods, subject to prescribed conditions and reductions. Credit must be claimed within a year of the tax invoice. Changes in business structure allow credit transfer, and credit adjustments are required when switching tax schemes or upon exemption. Payment calculations and conditions for capital goods supply are specified.
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