https://www.taxtmi.com/acts?id=30007 Input tax credit is available for registrants in respect of inputs and inputs in stock immediately before registration or before becoming liable, and for those leaving the composition scheme or where exempt supplies become taxable; credit on capital goods is subject to prescribed percentage reductions. Claims must be made within one year of the invoice. Unutilised credit may be transferred on change in constitution; where a person opts into composition or becomes exempt, they must pay an amount equivalent to attributable credit (reduced as prescribed) and any remaining balance lapses. For supply of capital goods, the higher of adjusted credit or tax on transaction value is payable. en-us Sat, 08 Jul 2017 11:11:47 +0530 Sat, 29 Jul 2017 15:10:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=30007 Input tax credit is available for registrants in respect of inputs and inputs in stock immediately before registration or before becoming liable, and for those leaving the composition scheme or where exempt supplies become taxable; credit on capital goods is subject to prescribed percentage reductions. Claims must be made within one year of the invoice. Unutilised credit may be transferred on change in constitution; where a person opts into composition or becomes exempt, they must pay an amount equivalent to attributable credit (reduced as prescribed) and any remaining balance lapses. For supply of capital goods, the higher of adjusted credit or tax on transaction value is payable. Act-Rules GST - States Sat, 08 Jul 2017 11:11:47 +0530 https://www.taxtmi.com/acts?id=30007