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Home Acts & Rules GST Acts CENTRAL GOODS AND SERVICES TAX ACT, 2017 Chapters List Chapter V INPUT TAX CREDIT This
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Section 18 - Availability of credit in special circumstances. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

Extract

..... ch he becomes liable to pay tax under the provisions of this Act; (b) a person who takes registration under sub-section (3) of section 25 shall be entitled to take credit of input tax in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the day immediately preceding the date of grant of registration; (c) where any registered person ceases to pay tax under section 10, he shall be entitled to take credit of input tax in respect of inputs held .....

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Section 18 - Availability of credit in special circumstances. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

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..... to him after the expiry of one year from the date of issue of tax invoice relating to such supply. (3) Where there is a change in the constitution of a registered person on account of sale, merger, demerger, amalgamation, lease or transfer of the business with the specific provisions for transfer of liabilities, the said registered person shall be allowed to transfer the input tax credit which remains unutilised in his electronic credit ledger to such sold, merged, demerged, amalgamated, leased .....

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Section 18 - Availability of credit in special circumstances. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

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..... goods or plant and machinery, on which input tax credit has been taken, the registered person shall pay an amount equal to the input tax credit taken on the said capital goods or plant and machinery reduced by such percentage points as may be prescribed or the tax on the transaction value of such capital goods or plant and machinery determined under section 15, whichever is higher: Provided that where refractory bricks, moulds and dies, jigs and fixtures are supplied as scrap, the taxable perso .....

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Section 18 - Availability of credit in special circumstances. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

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