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Switching from composition scheme to normal scheme of payment of tax - Whether the assessee is eligible to avail Input Tax Credit (ITC) on inputs or capital goods held in stock? How to determine the amount of ITC on capital goods to be availed?

Dated:- 10-8-2017 - Manual - Composition Scheme in GST Section 10 - Composition levy. Section 18 - Availability of credit in special circumstances. THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 Rule 40 - Manner of claiming credit in special circumstan .....

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day immediately preceding the date from which he becomes liable to pay tax u/s 9 ( Section 9 = under normal scheme of payment of tax) Provided that the credit on capital goods shall be reduced by such percentage points as may be prescribed. As per R .....

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