https://www.taxtmi.com/article/detailed?id=5490 Rule 21(8) makes input tax credit for goods in stock admissible from the date of a tax-rate reduction at the reduced rate; where credit stood on that date the available credit is accordingly limited to the reduced-rate entitlement, and where the corresponding credit had already been utilised before the reduction the rule does notrequire reversal or payment of the difference to the treasury, since admissibility at the reduced rate applies only if credit is standing on the date of reduction. en-us Wed, 19 Feb 2014 13:08:55 +0530 Wed, 19 Feb 2014 13:08:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5490 Rule 21(8) makes input tax credit for goods in stock admissible from the date of a tax-rate reduction at the reduced rate; where credit stood on that date the available credit is accordingly limited to the reduced-rate entitlement, and where the corresponding credit had already been utilised before the reduction the rule does notrequire reversal or payment of the difference to the treasury, since admissibility at the reduced rate applies only if credit is standing on the date of reduction. Articles Value Added Tax - VAT and CST Wed, 19 Feb 2014 13:08:55 +0530 https://www.taxtmi.com/article/detailed?id=5490