Transitional Provisions-Part-VII

Sec 173 - Exempted goods returned to the place of business on or after the appointed day The section enables a taxable person to receive exempted goods (under the old law) which were removed/sold earlier and then received back within 6 months of the appointed date. This section has been kept … [Read more...]

Transitional Provisions-Part-VI

Credit of eligible duties and taxes on inputs held in stock to be allowed to a taxable person switching over from composition scheme ┬áThe section 172 (146 in old draft) dictates the provision and conditions, on fulfillment of which a registered taxable person becomes eligible to avail the cenvat of … [Read more...]

Transitional Provisions-Part-V

SECTION 171 CREDIT OF ELIGIBLE DUTIES AND TAXES IN RESPECT OF INPUTS OR INPUT SERVICES DURING TRANSIT This is a new provision that has been incorporated in the revised GST law which provides for credit availment for inputs/input services during transit. Where the goods have been removed prior to … [Read more...]

Transitional Provisions-Part-III

Credit of eligible duties and taxes in respect of inputs held in stock to be allowed in certain situations This provision intends to enable the taxable person to avail the cenvat of duties and taxes in respect of inputs held in stock subject to certain conditions. The provision reads as … [Read more...]

Transitional Provisions-Part-II

Unavailed cenvat credit on capital goods, not carried forward in a return, to be allowed in certain situations The changed section 168 (old section 144) reads as follows: A registered taxable person, other than a person opting to pay tax under section 9, shall be entitled to take, in his … [Read more...]

Job Work under Revised GST Law

The amendments made in the provisions pertaining to job work and their comparision with respect to earlier GST law and in present scenario is summarised as follows:- Earlier GST law provided that Commissioner may be special order and subject to conditions, permit a registered taxable person to … [Read more...]