TRANSITIONAL PROVISIONS-PART-VII Sec 173 – Exempted goods returned to the place of business on or after the appointed day
By: – Pradeep Jain
Goods and Services Tax – GST
Dated:- 3-1-2017
GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN
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 similar to the previous provision in the old draft. The only amendment has been introduced by a way of proviso in both CGST law and SGDT act to clarify that if the exempted
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tax under this Act and are returned after a period of six months from the appointed day. Instead of it, a new proviso has been added which states as follows:
PROVIDED that if the said goods are returned by a registered taxable person the return of the goods shall be deemed to be a supply.
The effect of this amendment is that earlier where the tax became payable only if the return was made after a time period of 6 months, now the return will be held as supply irrespective of the time period of return. Also the old draft stated that:
Every taxable person who receives such goods within a period of six months shall be entitled to take credit of the duty paid earlier at the time of removal.
This proviso has also been deleted as after the
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