Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 10-1-2017 – GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN TRANSITIONAL PROVISIONS-PART-XII 197. Transitional provisions for availing Cenvat credit in certain cases This provision has been added to as to provide for treatment of such cenvat which was reversed before the appointed day due to non-payment of consideration within a period of 3 months. This provision states that in such situation such credit can be reclaimed provided that the taxable person has made the payment of the consideration for that supply of services within a period of three months from the appointed day. This provision may be a welcome step but it s also difficult to implement and brings with it restrictions.
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