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Credit of eligible duties and taxes on inputs held in stock to be allowed to a taxable person switching over from composition scheme

Section 172 - TRANSITIONAL PROVISIONS - Goods and Services Tax - Section 172 - 172. (1) A registered taxable person, who was either paying tax at a fixed rate or paying a fixed amount in lieu of the tax payable under the earlier law (hereinafter referred to in this section as a composition taxpayer ), shall be entitled to take, in his electronic credit ledger, credit of eligible duties in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the .....

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r other prescribed documents were issued not earlier than twelve months immediately preceding the appointed day. (2) The amount of credit under sub-section (1) shall be calculated in such manner as may be prescribed. (CGST Law) (1) A registered taxable person, who was either paying tax at a fixed rate or paying a fixed amount in lieu of the tax payable under the earlier law (hereinafter referred to in this section as a composition taxpayer ), shall be entitled to take, in his electronic credit l .....

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