https://www.taxtmi.com/acts?id=29414 Entitlement to input tax credit arises for persons registering within prescribed time or on grant of delayed registration, for those leaving the composition scheme, and where exempt supplies become taxable, in respect of inputs, stock and capital goods held immediately before the relevant date, subject to prescribed reductions on capital goods. Credit cannot be claimed after one year from invoice. Unutilised electronic credit may transfer on change of business constitution. Those opting for composition or becoming wholly exempt must pay an amount by debit to the electronic credit or cash ledger equivalent to eligible credit on stock and capital goods, reduced as prescribed, and any remaining ledger balance then lapses. Disposal of capital goods requires repayment computed as prescribed or tax on transaction value, whichever is higher. en-us Tue, 04 Jul 2017 15:00:42 +0530 Thu, 27 Jul 2017 16:39:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=29414 Entitlement to input tax credit arises for persons registering within prescribed time or on grant of delayed registration, for those leaving the composition scheme, and where exempt supplies become taxable, in respect of inputs, stock and capital goods held immediately before the relevant date, subject to prescribed reductions on capital goods. Credit cannot be claimed after one year from invoice. Unutilised electronic credit may transfer on change of business constitution. Those opting for composition or becoming wholly exempt must pay an amount by debit to the electronic credit or cash ledger equivalent to eligible credit on stock and capital goods, reduced as prescribed, and any remaining ledger balance then lapses. Disposal of capital goods requires repayment computed as prescribed or tax on transaction value, whichever is higher. Act-Rules GST - States Tue, 04 Jul 2017 15:00:42 +0530 https://www.taxtmi.com/acts?id=29414