https://www.taxtmi.com/forum/issue?id=112386 On exiting the composition scheme, input tax credit for capital goods is not available if the invoice is older than one year; spare parts supplied during warranty attract GST and any previously claimed ITC on such parts must be reversed when used for warranty obligations; credit reversed under prior write off rules cannot be reclaimed if goods are later used post GST. Warranty costs are regarded as part of the transaction value, and suppliers bear tax on warranty repairs. en-us Wed, 19 Jul 2017 23:09:03 +0530 Thu, 23 Jan 2025 15:55:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112386 On exiting the composition scheme, input tax credit for capital goods is not available if the invoice is older than one year; spare parts supplied during warranty attract GST and any previously claimed ITC on such parts must be reversed when used for warranty obligations; credit reversed under prior write off rules cannot be reclaimed if goods are later used post GST. Warranty costs are regarded as part of the transaction value, and suppliers bear tax on warranty repairs. Discussion-Forum GST Wed, 19 Jul 2017 23:09:03 +0530 https://www.taxtmi.com/forum/issue?id=112386