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Availability of credit in special circumstances

Section 18 - INPUT TAX CREDIT - Goods and Services Tax - Section 18 - 18. (1) A person who has applied for registration under the Act within thirty days from the date on which he becomes liable to registration and has been granted such registration shall, subject to such conditions and restrictions as may be prescribed, 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 .....

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under section 9, he shall, subject to such conditions and restrictions as may be prescribed, be entitled to take credit of input tax in respect of inputs held in stock, inputs contained in semi-finished or finished goods held in stock and on capital goods on the day immediately preceding the date from which he becomes liable to pay tax under section 8: PROVIDED that the credit on capital goods shall be reduced by such percentage points as may be prescribed in this behalf (4) Where an exempt supp .....

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the credit on capital goods shall be reduced by such percentage points as may be prescribed in this behalf. (5) A taxable person shall not be entitled to take input tax credit under sub-section (1), (2), (3) or (4), as the case may be, in respect of any supply of goods and / or services to him after the expiry of one year from the date of issue of tax invoice relating to such supply. (6) Where there is a change in the constitution of a registered taxable person on account of sale, merger, demerg .....

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