Can any one tell me
If a composition dealer converted into regular scheme
Can he take credit of earlier purchases made under composition scheme
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composition Dealer
Replies (5)
yes u can by filing ITC 01
yes but only on stock available the preceding day when converted to regular sheme
yes , offcourse on stock only..
You can avail the ITC benefits for the Stock only (the closing stock at the time of Conversion).
Means , Even the Purchases Bills are on COMPOSITION DEALER name also
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