Q. An assessee obtains new registration, voluntary registration, change of scheme from composition to regular scheme and from exempted goods/ services to taxable goods/services. It can avail credit on inputs lying in stock. What is the time limit for taking said credit? (Solved)
1. 1 year from the date of invoice
2. 3 years from the date of invoice
3. 5 years from the date of invoice
4. None of the above
- a. 1 year from the date of invoice