https://www.taxtmi.com/article/detailed?id=15138 Input tax credit must be reversed when supplies become wholly exempt: the registered person shall pay, by debit to the electronic credit or cash ledger, the credit attributable to inputs in stock, inputs in semi finished or finished goods in stock, and on capital goods on the day immediately preceding the exemption or option, with Rule 44 prescribing the mechanism and capital goods reversals apportioned by remaining useful life; rate reductions that leave supplies taxable do not trigger reversal, while compensation cess removal presents an interpretive divergence on whether cess credit must be reversed immediately. en-us Fri, 26 Sep 2025 08:28:56 +0530 Fri, 26 Sep 2025 08:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15138 Input tax credit must be reversed when supplies become wholly exempt: the registered person shall pay, by debit to the electronic credit or cash ledger, the credit attributable to inputs in stock, inputs in semi finished or finished goods in stock, and on capital goods on the day immediately preceding the exemption or option, with Rule 44 prescribing the mechanism and capital goods reversals apportioned by remaining useful life; rate reductions that leave supplies taxable do not trigger reversal, while compensation cess removal presents an interpretive divergence on whether cess credit must be reversed immediately. Articles Goods and Services Tax - GST Fri, 26 Sep 2025 08:28:56 +0530 https://www.taxtmi.com/article/detailed?id=15138