As per companyvakil the Draft Input Tax Credit Guidelines, when typical taxable person modifications to composition scheme, for the capital goods remaining in stock the input tax credit to be reversed, is primarily based on the residual life of the asset as 5 years and input tax credit will be computed on pro-rata basis for the remaining life of the asset. Now the businessmen not only will involve the taxable indigenous supply and exports but also will have to contain exempt supplies for calculation of Aggregate Turnover which is compared with statutory threshold limit.A Casual Taxable person

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