https://www.taxtmi.com/forum/issue?id=117483 The notification does not prohibit switching between the with ITC option and the without ITC option mid year; switching from with ITC to without ITC requires reversal of the electronic input tax credit balance on the date of switch. The change may alternatively be effected at the start of a financial year, the department may be informed by a simple intimation letter, and tax is determined transaction wise so different transactions may be taxed under different options, though practical accounting difficulties may favour an annual switch. en-us Fri, 10 Sep 2021 17:13:19 +0530 Thu, 23 Jan 2025 15:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117483 The notification does not prohibit switching between the with ITC option and the without ITC option mid year; switching from with ITC to without ITC requires reversal of the electronic input tax credit balance on the date of switch. The change may alternatively be effected at the start of a financial year, the department may be informed by a simple intimation letter, and tax is determined transaction wise so different transactions may be taxed under different options, though practical accounting difficulties may favour an annual switch. Discussion-Forum GST Fri, 10 Sep 2021 17:13:19 +0530 https://www.taxtmi.com/forum/issue?id=117483