https://www.taxtmi.com/acts?id=24491 When a registered person opts for the composition scheme or supplies become wholly exempt, they must pay an amount equal to the input tax credit in respect of stocks held on the day immediately preceding the option or exemption date; for capital goods the payable amount is reduced by a prescribed percentage. Payment may be made by debiting the electronic credit ledger if sufficient, or by debiting the electronic cash ledger; any remaining balance in the credit ledger lapses. en-us Mon, 03 Apr 2017 15:31:18 +0530 Mon, 03 Apr 2017 15:31:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=24491 When a registered person opts for the composition scheme or supplies become wholly exempt, they must pay an amount equal to the input tax credit in respect of stocks held on the day immediately preceding the option or exemption date; for capital goods the payable amount is reduced by a prescribed percentage. Payment may be made by debiting the electronic credit ledger if sufficient, or by debiting the electronic cash ledger; any remaining balance in the credit ledger lapses. Act-Rules Bills Mon, 03 Apr 2017 15:31:18 +0530 https://www.taxtmi.com/acts?id=24491