Transitioning to GST Composition Scheme: Determine ITC Reversal for Stock and Compliance with Regulations.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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?....