In the case of renting of motor vehicle (SAC 9966), the taxpayer opted the tax rate from 5% (not eligible for ITC) to 12% (eligible to claim ITC) from FY 2023–24, so can he claim the ITC on input goods held in stock and capital goods?
If yes, then through which form?
No.... he cannot .
As once you have opted for 5% WITHOUT ITC , you cannot utilize the ITC lying in your credit ledger.
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