Switching between the composition scheme and normal scheme of ...
Switching Tax Schemes: Reverse ITC on Capital Goods for Up to 5 Years; No Credit on Older Inputs.
August 10, 2017
Notes GST
Switching between the composition scheme and normal scheme of payment of tax - When opted for the Composition scheme, ITC on Capital Goods need to be reversed upto 5 years, there is no limit on inputs held in stock - But when opted out from the composition scheme, credit cannot be availing on inputs and capital goods which are more than 1 years old.
View Source