Input tax credit entitlement for stocks and capital goods on registration or taxability changes; repayment and transfer rules apply. Availability of input tax credit arises when registration is granted within thirty days or under specified registration provisions, on exit from the composition scheme, or when exempt supplies become taxable; credit covers inputs, inputs in semi finished and finished goods and capital goods held immediately before the relevant date, with prescribed reductions for capital goods. Claims are barred after one year from invoice. Unutilised credit may be transferred on business reorganisation. Opting into composition or becoming wholly exempt triggers payment equivalent to credit on stocks and capital goods (reduced as prescribed); methods and calculation are prescribed. On supply of capital goods, the supplier must repay the higher of adjusted credit or tax on transaction value.