Every registered taxable person whose registration has been cancelled shall pay the amount of ITC on inputs which are held in stock and inputs contained in semi-finished or finished goods held in stock on the day immediately preceding the date of such cancellation or the output tax payable on such goods whichever is higher to be calculated in a manner as prescribed. In case of capital goods, the person shall pay the ITC claimed on such capital goods reduced by such percentage points as maybe prescribed in this behalf or tax on transaction value whichever is higher. The above said payment can be made by debiting the electronic credit ledger or through cash ledger.
(ICAI FAQ PUBLICATIONS 06-09-2017 REGISTRATION: FAQ NO. 49)