Section 169 – Draft-Bills-Reports – TRANSITIONAL PROVISIONS – MODEL GST LAW – Draft The Central / State Goods and Services Tax Act, 2016 – [November 2016] – Section 169 – 169. Credit of eligible duties and taxes in respect of inputs held in stock to be allowed in certain situations (1) A registered taxable person, who was not liable to be registered under the earlier law, or who was engaged in the manufacture of exempted goods or provision of exempted services, or who was providing works contract service and was availing of the benefit of notification No. 26/2012-Service Tax, dated 20.06.2012 or a first stage dealer or a second stage dealer or a registered importer, shall be entitled to take, in his electronic credit ledger, credit of elig
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months immediately preceding the appointed day; and (vi) the supplier of services is not eligible for any abatement under the Act: PROVIDED that where a registered taxable person, other than a manufacturer or a supplier of services, is not in possession of an invoice or any other documents evidencing payment of duty in respect of inputs, then such registered taxable person shall, subject to such conditions, limitations and safeguards as may be prescribed, be allowed to take credit at the rate and in the manner prescribed. (2) The amount of credit under sub-section (1) shall be calculated in such manner as may be prescribed. Explanation.- For the purpose of this section and section 170, section 171 and section 172, the expression eligible d
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1975); (vii) the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, 1975 (51 of 1975); and (viii) the service tax leviable under section 66B of the Finance Act, 1994 (32 of 1994);- in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day. (CGST Law) (1) A registered taxable person, who was not liable to be registered under the earlier law or who was engaged in the sale of exempted goods under the earlier law but which are liable to tax under this Act, shall be entitled to take, in his electronic credit ledger, credit of the Value Added Tax [and entry tax] in respect of inputs held in stock and inputs contained in semi-finished or finish
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