https://www.taxtmi.com/forum/issue?id=120434 A taxpayer who validly availed input tax credit on capital goods when supplies were taxable with ITC need not reverse that credit solely because the tax rate is subsequently reduced and prospectively made subject to a no ITC condition; reversal is required only where supplies become exempt or capital goods are diverted to exclusively exempt or non taxable use under the statutory reversal mechanisms. en-us Mon, 08 Sep 2025 19:53:04 +0530 Wed, 10 Sep 2025 13:45:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120434 A taxpayer who validly availed input tax credit on capital goods when supplies were taxable with ITC need not reverse that credit solely because the tax rate is subsequently reduced and prospectively made subject to a no ITC condition; reversal is required only where supplies become exempt or capital goods are diverted to exclusively exempt or non taxable use under the statutory reversal mechanisms. Discussion-Forum GST Mon, 08 Sep 2025 19:53:04 +0530 https://www.taxtmi.com/forum/issue?id=120434