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of <h1>Section 18 of Puducherry GST Act: Conditions for Input Tax Credit, Stock Claims, and Credit Reversals Explained</h1> Section 18 of the Puducherry Goods and Services Tax Act, 2017, outlines the conditions for claiming input tax credit in special circumstances. It allows registered persons to claim credit for input tax on stock and goods held before registration or when transitioning from exempt to taxable supplies. Credit on capital goods is subject to reductions. Input tax credit cannot be claimed after one year from the invoice date. In cases of business restructuring, unutilized input tax credit can be transferred. If opting for composition tax or when supplies become exempt, corresponding credit must be reversed. Specific rules govern the calculation and reversal of credits.
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