A dealer paying tax on compounding basis crosses the compounding threshold and becomes a regular taxable person. Can he avail ITC and if so from what date? https://www.taxtmi.com/acts?id=22358 A dealer who ceases to pay tax on compounding basis and becomes liable to pay tax under section 7 may avail Input Tax Credit in respect of inputs held in stock and inputs contained in semi finished or finished goods held in stock on the day immediately preceding the date from which he becomes liable, as provided by section 16(3) of the Model GST Law. en-us Thu, 22 Sep 2016 16:50:28 +0530 Thu, 22 Sep 2016 16:50:28 +0530 TaxTMI RSS Generator A dealer paying tax on compounding basis crosses the compounding threshold and becomes a regular taxable person. Can he avail ITC and if so from what date? https://www.taxtmi.com/acts?id=22358 A dealer who ceases to pay tax on compounding basis and becomes liable to pay tax under section 7 may avail Input Tax Credit in respect of inputs held in stock and inputs contained in semi finished or finished goods held in stock on the day immediately preceding the date from which he becomes liable, as provided by section 16(3) of the Model GST Law. Act-Rules Bills Thu, 22 Sep 2016 16:50:28 +0530 https://www.taxtmi.com/acts?id=22358