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Manner of reversal of credit under special circumstances

Rule 9 - Final Rules - Input Tax Credit - Goods and Services Tax - Rule 9 - 9. (1) The amount of input tax credit relating to inputs held in stock, inputs contained in semifinished and finished goods held in stock, and capital goods held in stock shall, for the purposes of sub-section (4) of section 18 or sub-section (5) of section 29, be determined in the following manner namely,- (a) for inputs held in stock and inputs contained in semi-finished and finished goods held i .....

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emaining life in months= 5 months ignoring a part of the month Input tax credit taken on such capital goods= Ç Input tax credit attributable to remaining useful life= C multiplied by 5/60 (2) The amount, as prescribed in sub-rule (1) shall be determined separately for input tax credit of integrated tax and central tax. (3) Where the tax invoices related to the inputs held in stock are not available, the registered person shall estimate the amou .....

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