https://www.taxtmi.com/acts?id=27362 Input tax credit is available for inputs and inputs contained in stock immediately before registration, grant of registration, cessation of composition liability, or conversion of exempt supplies to taxable status, with credits on capital goods reduced by prescribed percentage points. Claims are barred after one year from the tax invoice. Unutilised electronic credit may be transferred on change of business constitution. A person who earlier availed credit and later opts for composition or becomes wholly exempt must pay an amount equivalent to related credits, reduced by prescribed percentages, by debiting electronic ledgers; remaining credit then lapses. Supply of capital goods requires repayment equal to the adjusted credit or tax on transaction value, whichever is higher. en-us Fri, 23 Jun 2017 17:16:40 +0530 Tue, 25 Jul 2017 10:57:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=27362 Input tax credit is available for inputs and inputs contained in stock immediately before registration, grant of registration, cessation of composition liability, or conversion of exempt supplies to taxable status, with credits on capital goods reduced by prescribed percentage points. Claims are barred after one year from the tax invoice. Unutilised electronic credit may be transferred on change of business constitution. A person who earlier availed credit and later opts for composition or becomes wholly exempt must pay an amount equivalent to related credits, reduced by prescribed percentages, by debiting electronic ledgers; remaining credit then lapses. Supply of capital goods requires repayment equal to the adjusted credit or tax on transaction value, whichever is higher. Act-Rules GST - States Fri, 23 Jun 2017 17:16:40 +0530 https://www.taxtmi.com/acts?id=27362