Exempt to taxable supplies itc

This discussion explores the eligibility of Input Tax Credit (ITC) for a capital asset acquired when a business was making exempt supplies, but later transitioned to taxable supplies. The user is seeking to calculate the available ITC on an asset purchased in April 2017, considering its usage over several quarters before the supplies became taxable in November 2018. The calculation involves reducing the initial ITC by 5% per quarter of usage.