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<\/p>\n
GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN
\nTRANSITIONAL PROVISIONS-PART-VII
\nSec 173 – Exempted goods returned to the place of business on or after the appointed day
\nThe 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<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n 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: = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" TRANSITIONAL PROVISIONS-PART-VII Sec 173 – Exempted goods returned to the place of business on or after the appointed dayBy: – Pradeep JainGoods and Services Tax – GSTDated:- 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 … Continue reading “TRANSITIONAL PROVISIONS-PART-VII Sec 173 – Exempted goods returned to the place of business on or after the appointed day”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-2072","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2072"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2072\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nPROVIDED that if the said goods are returned by a registered taxable person the return of the goods shall be deemed to be a supply.
\nThe 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:
\nEvery 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.
\nThis proviso has also been deleted as after the <\/p>\n
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