Input tax credit adjustment required when a credit claimant opts into the specified tax regime, with residual credit lapsing. A registered person who availed input tax credit and opts to pay tax under this notification must pay, by debit to the electronic credit or cash ledger, an amount equal to the credit on inputs in stock, inputs in semi finished or finished goods held in stock, and on capital goods as if section 18(4) applied; any remaining input tax credit shall lapse.
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 required when a credit claimant opts into the specified tax regime, with residual credit lapsing.
A registered person who availed input tax credit and opts to pay tax under this notification must pay, by debit to the electronic credit or cash ledger, an amount equal to the credit on inputs in stock, inputs in semi finished or finished goods held in stock, and on capital goods as if section 18(4) applied; any remaining input tax credit shall lapse.
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