Switching from normal payment of tax composition scheme - Whether the assessee is liable to reverse Input Tax Credit (ITC) on inputs or capital goods held in stock? How to calculate reversal of ITC in such case?

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... credit in special circumstances. THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 Rule 44 - Manner of reversal of credit under special circumstances Central Goods and Services Tax Rules, 2017 Yes, as per section 18(4) of CGST Act, 2017, he shall pay an amount, by way of debit in the electronic credit ledger or electronic cash ledger, equivalent to the credit of input tax in respect of inputs held....