9911796707
TMI BlogAvailability of credit in special circumstances.X X X X Extracts X X X X X X X X Extracts X X X X ..... becomes liable to registration and has been granted such registration shall 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 the date from which he becomes liable to pay tax under the provisions of this Act; (b) a person who takes registration under sub-section (3) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rson shall 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 relatable to such exempt supply and on capital goods exclusively used for such exempt supply on the day immediately preceding the date from which such supply becomes taxable: Provided that the credit on capital goods shall be reduced by su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... availed of input tax credit opts to pay tax under section 10 or, where the goods or services or both supplied by him become exempt absolutely, he shall pay an amount, by way of debit in the electronic credit ledger or electronic cash ledger, equivalent to the credit of input tax in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock and on capital ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue of such capital goods or plant and machinery determined under section 15, whichever is higher: Provided that where refractory bricks, moulds and dies, jigs and fixtures are supplied as scrap, the taxable person may pay tax on the transaction value of such goods determined under section 15. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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