Input tax credit adjustment: payment required when opting composition scheme; remaining credit to lapse under Goa GST rules. Registered persons who availed input tax credit and opt to pay tax under the notification must pay, by debit to the electronic credit or cash ledger, an amount equal to input tax credit on inputs in stock, inputs in semi finished or finished goods in stock, and on capital goods as if section 18(4) applied; after such payment any balance of input tax credit in the electronic credit ledger shall lapse. The Goa GST Rules applicable to persons under section 10 apply mutatis mutandis to persons paying under this notification.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Input tax credit adjustment: payment required when opting composition scheme; remaining credit to lapse under Goa GST rules.
Registered persons who availed input tax credit and opt to pay tax under the notification must pay, by debit to the electronic credit or cash ledger, an amount equal to input tax credit on inputs in stock, inputs in semi finished or finished goods in stock, and on capital goods as if section 18(4) applied; after such payment any balance of input tax credit in the electronic credit ledger shall lapse. The Goa GST Rules applicable to persons under section 10 apply mutatis mutandis to persons paying under this notification.
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