Input tax credit entitlement for newly registered persons: credit for inputs and inputs in finished stock prior to registration. A newly registered person may claim input tax credit for inputs held in stock and inputs contained in semi finished or finished goods on the day immediately preceding the grant of registration. If the person was liable to register and applied within the prescribed short period after becoming liable, the credit may be claimed as of the day immediately preceding the date on which the person became liable to registration.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit entitlement for newly registered persons: credit for inputs and inputs in finished stock prior to registration.
A newly registered person may claim input tax credit for inputs held in stock and inputs contained in semi finished or finished goods on the day immediately preceding the grant of registration. If the person was liable to register and applied within the prescribed short period after becoming liable, the credit may be claimed as of the day immediately preceding the date on which the person became liable to registration.
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