Unavailed cenvat credit on capital goods, not carried forward in a return, to be allowed in certain situations
Section 144
Bill
TRANSITIONAL PROVISIONS
MODEL GST LAW – GOODS AND SERVICES TAX ACT, 2016 – Draft June 2016
144. Unavailed cenvat credit on capital goods, not carried forward in a return, to be allowed in certain situations
(1) A registered taxable person shall be entitled to take, in his electronic credit ledger, credit of the unavailed cenvat credit in respect of capital goods, not carried forward in a return, furnished under the earlier law by him, for the period ending with the day immediately preceding the appointed day in such manner as may be prescribed:
Provided that the taxable person shall not be allowe
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
of tax under this Act from the taxable person if the said amount is found to be recoverable as a result of any proceeding instituted, whether before or after the appointed day, against such person under the earlier law.
(CGST Law)
(1) A registered taxable person shall be entitled to take, in his electronic credit ledger, credit of the unavailed input tax credit in respect of capital goods, not carried forward in a return, furnished under the earlier law by him, for the period ending with the day immediately preceding the appointed day in such manner as may be prescribed :
Provided that the taxable person shall not be allowed to take credit unless the said credit was admissible as input tax credit under the earlier law and is so admissib
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =