Transitional Provisions-Part-IX

Pending refund claims to be disposed of under earlier law. This section provides for the treatment of such refund claims which have been filed before the appointed day in respect of any tax, amount of cenvat credit, duty, tax or interest paid before the appointed day. It provides that all such … [Read more...]

Transitional Provisions-Part-VIII

Section 175 - Inputs removed for job work and returned on or after the appointed day This section intends to enable the receipt of goods sent on job work before the appointed day but received back after the appointed day. Like the previous sections the time limit has been kept at 6 months from the … [Read more...]

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  The 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-IV

Credit of eligible duties and taxes in respect of inputs held in stock to be allowed in certain situations This is a new provision added in the act aiming to cover such assessees who are engaged in manufacture of both taxable and exempted goods or are providing both taxable and exempted services. … [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...]