TRANSITIONAL PROVISIONS-PART-IX
By: – Pradeep Jain
Goods and Services Tax – GST
Dated:- 6-1-2017
GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN
TRANSITIONAL PROVISIONS-PART-IX
179. 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 claims will be disposed off as according the rules laid down in the previous law itself and any refund accruing on such account shall be paid in cash only. Thus no cenvat will be granted against such refund.
Presently, the department is allowing the rebate
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ount of Cenvat credit where the balance of the said amount as on the appointed day has been carried forward under this Act
It is a clarificatory in nature to remove such interpretation of the law which would lead to availing of double benefits i.e. cenvat and refund both. It has been clarified that where any cenvat is carried forward in return, then no refund shall be granted of such cenvat.
We have seen that refund of unutilised credit under Rule 5 of Cenvat credit Rules prescribes the condition that the refund claim should be debited from the cenvat account before filing the claim. This provision has been incorporated recently. But earlier the amount was debited only after sanction of rebate claim so that exact amount is debited in the
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ointed day but for the transactions undertaken before the appointed date. In the old draft, there was no provision for such instances. It is obvious that the refund in respect of goods sold/exported or service provided/exported before the appointed day (majorly in the quarter of Jan-March) under rebate/refund claim will have to be filed after the appointed day. In absence of any specific provision in this regard, litigation could have happened. Thus addition of these provisions is a welcome step. In both the cases, refund claims will be dealt with in accordance of previous laws and refund if any, will be paid fully in cash.
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