Q. Is Input tax to be paid in case of switchover from taxable to exempt supplies (Solved)
1. Yes, equivalent to the credit in respect of inputs held in stock (including semi- finished and finished goods) and on capital goods held in stock
2. No
3. Yes, full credit
4. No, should be debited to electronic credit ledger
- a. Yes, equivalent to the credit in respect of inputs held in stock (including semi- finished and finished goods) and on capital goods held in stock