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Mr. B a registered taxable person was paying tax under composition rate up to 30th July 2017. However w.e.f 31st July 2017. Mr. B becomes liable to pay tax under regular scheme. Is he eligible for ITC?

Question 14 - Input Tax Credit - Goods and Services Tax - Question 14 - Q 14. Ans. Mr. B is eligible for input tax credit on inputs held in stock and inputs contained in semi-finished or finished good .....

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