When a person under regular scheme changes to composition scheme, he shall pay an amount by way of debit in the Electronic Credit Ledger or Electronic cash ledger, equivalent to credit of input tax in respect of inputs held in stock and inputs contained in semi-finished stock and on capital goods on the:
A. Day preceding the date of exercising such option
B. Date of exercising such option
C. Day after the date of exercising such option
D. None of the above
Answer:A
When a person under regular scheme changes to composition scheme, he shall pay an amount by way of debit in the Electronic Credit Ledger or Electronic cash ledger, equivalent to credit of input tax in respect of inputs held in stock and inputs contained in semi-finished stock and on capital goods on the:
A. Day preceding the date of exercising such option B. Date of exercising such option C. Day after the date of exercising such option D. None of the above