https://www.taxtmi.com/acts?id=23915 Input tax credit is available in special circumstances such as prompt registration after liability, registration under composition-related provisions, cessation from the composition scheme, and conversion of exempt supplies into taxable supplies. Credit may relate to inputs in stock, semi-finished or finished goods, and, where applicable, capital goods, subject to prescribed conditions, reductions, and a one-year invoice limit. Unutilised credit may be transferred on business reorganisation, while opting for composition tax or becoming wholly exempt requires reversal of attributable credit, with any remaining balance in the electronic credit ledger lapsing. en-us Mon, 27 Mar 2017 17:00:18 +0530 Thu, 25 Jun 2026 16:35:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=23915 Input tax credit is available in special circumstances such as prompt registration after liability, registration under composition-related provisions, cessation from the composition scheme, and conversion of exempt supplies into taxable supplies. Credit may relate to inputs in stock, semi-finished or finished goods, and, where applicable, capital goods, subject to prescribed conditions, reductions, and a one-year invoice limit. Unutilised credit may be transferred on business reorganisation, while opting for composition tax or becoming wholly exempt requires reversal of attributable credit, with any remaining balance in the electronic credit ledger lapsing. Act-Rules GST Mon, 27 Mar 2017 17:00:18 +0530 https://www.taxtmi.com/acts?id=23915