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 Sec 18 -AVAILABILITY OF CREDIT IN SPECIAL CIRCUMSTANCES
Situation Credit From When

(a) a person who has Input in stock Day immediately preceding the
applied for registration date from which he becomes
under this Act within Input contained in Semi- liable to pay tax
thirty days from the Finished Goods
date on which he Input Contained in Finished
becomes liable to Goods
registration and has
been granted such
registration

(b) Voluntary Registration Input in stock Day immediately preceding the

date of grant of registration;
Input contained in Semi-
Finished Goods

Input Contained in Finished

Goods

(c) ceases to pay tax under Input in stock Day immediately preceding the
section 10 date from which he becomes
Input contained in Semi- liable to pay tax under section
Finished Goods 9:
Input Contained in Finished
Goods

*Capital Goods

(d) Exempt supply of Input in stock day immediately preceding the

goods or services date from which such supply
Input contained in Semi-
become taxable supply becomes taxable
Finished Goods

Input Contained in Finished

Goods

*Capital Goods

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 (2) No ITC in respect of goods or services or both after expiry of 1 year from the date
of issue of issue tax invoicerelating to such supply

(3) Transfer of ITC which remains unutilised in Electronic Credit Ledger on account of
sales, merger, demerger, amalgamation, lease or transfer of business with specific provison
of transfer of liabilities to such sold, merged, demerged, amalgamated, leased or transferred
business.

(4) Regular Scheme to Composite Scheme/ Taxable Supply to Exempt Supply:- Pay
through Electronic Credit Ledger or Electronic Cash Ledger an amount equivalent to input
tax in respect of input held in stock, semi-finished goods or finished goods held in stock and
on capital goods reduced by such percentage on day immediately preceeding the event.
Remaining ITC will lapse.

(5) Supply of Capital Goods or plant and machinery on which input tax credit has been
taken:- Registered Person shall pay an amount equal to ITC on said Capital goods reduced
by such percentage as may be prescribed or tax on transaction value u/s 15 whichever is
higher.