TRANSITIONAL PROVISIONS IN GST
GST
Dated:- 11-8-2017
TRANSITIONAL PROVISIONS IN GST
\n=============
\nDocument 1
\nTRANSITIONAL
\nPROVISIONS IN GST
\nSECTIONS IN MODEL GST
\n\u00e2\u017e\u00a4 MIGRATION OF EXISTING TAX PAYERS [s. 166]
\n\u00e2\u017e\u00a4 CENVAT\/VAT CREDIT c\/f in a return to be allowed as ITC [s.167]
\n\u2022
\n\u00e2\u017e\u00a4 Un-availed CENVAT\/VAT Credit on capital goods, not c\/f in a return [s.168]
\n\u2022
\nINPUT CREDIT ON STOCK TO BE ALLOWED IN CERTAIN SITUATIONS [ s.169]
\nNot liable for registration earlier but liable for registration now
\nManufacture of exempted goods and provision of exempt services earlier but
\ntaxable now
\nWorks contract service availing the benefit of notification No. 26\/2012
\nFirst stage dealer or second stage dealer or registered importer
\nSECTIONS IN MODEL GST
\n\u00e2\u017e\u00a4 CENVAT Credit of inputs held in stock related to exempted goods or services of a
\nmanufacturer\/service provider engaged in both non-exempted and exempted
\n[s.170] [CGST]
\n\u00e2\u017e\u00a4 Credit of eligible duties<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \nTDS] [s.186 – 197] = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n of such credit by way of reduced prices to the = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n law = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n y to it this provision is specific to SGST Law this provision is specific to SGST Law = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" TRANSITIONAL PROVISIONS IN GST GSTDated:- 11-8-2017TRANSITIONAL PROVISIONS IN GST ============= Document 1 TRANSITIONAL PROVISIONS IN GST SECTIONS IN MODEL GST \u00e2\u017e\u00a4 MIGRATION OF EXISTING TAX PAYERS [s. 166] \u00e2\u017e\u00a4 CENVAT\/VAT CREDIT c\/f in a return to be allowed as ITC [s.167] \u2022 \u00e2\u017e\u00a4 Un-availed CENVAT\/VAT Credit on capital goods, not c\/f in a return [s.168] … Continue reading “TRANSITIONAL PROVISIONS IN GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7109","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7109","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=7109"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7109\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nMIGRATION OF EXISTING TAX PAYERS TO GST
\nIssue of
\nProvisional
\nCertificate with
\nvalidity of 6
\nmonths
\nTaxable Person
\nfurnishes required
\ninformation within 6
\nmonths
\nFINAL REGISTRATION
\nCERTIFICATE IS
\nGRANTED
\nTaxable Person does
\nnot furnish required
\ninformation within 6
\nProvisional Certificate
\nmay be Cancelled
\nmonths
\nProvisional Certificate is cancelled upon
\ndealer's application
\n[Not Liable
\nunder GST]
\nProvisional Certificate is DEEMED
\nNOT TO HAVE BEEN ISSUED
\n5
\nCENVAT\/VAT CREDIT [s.167-172]
\nC\/F IN THE LAST RETURN
\nUNAVAILED CREDIT ON
\nCAPITAL GOODS
\nPRE GST
\nCENVAT\/
\nVAT CREDIT
\nMANUFACTURED GOODS EXEMPT EARLIER –
\nTAXABLE NOW
\nENJOYED COMPOSITION PRE GST, NOW
\nUNDER NORMAL SCHEME
\nWAS UNDER NORMAL SCHEME PRE GST,
\nNOW OPTS FOR COMPOSITION
\n6
\nCENVAT\/VAT CREDIT [s.167 – 168]
\nCENVAT\/VAT CREDIT
\nCARRIED FORWARD
\nUNAVAILED CENVAT\/VAT
\nCREDIT ON CAPITAL
\nGOODS
\nNOT CARRIED FORWARD
\nCREDIT WILL BE
\nAVAILABLE IN GST
\nSubject to the following Conditi<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nrecipient
\n\u00e2\u0153\u201c The amount of credit shall be calculated in such manner as may be
\nprescribed
\n9
\nGOODS RETURN [s.173-174]
\nWhen,
\n\u00e2\u017e\u00a4 Goods were removed\/sold within 6 months prior to the appointed day &
\n\u00e2\u017e\u00a4 Returned within 6 months from the appointed day
\n\u00e2\u017e\u00a4 Proper Officer can satisfactorily identify the goods, then for
\nGoods which were Earlier
\nExempted but Taxable
\nunder GST
\nGoods on which Duty\/Tax
\npaid under the earlier law
\nNo Tax is payable by the
\nperson returning the
\nGoods
\nIf the goods are returned
\nby a taxable person such
\nreturn is a deemed supply
\nTaxable Person receiving
\nsuch goods within 6
\nmonths entitled to refund
\nof duty\/tax paid earlier at
\nthe time of removal\/sale
\n10
\nJOB WORK [s.175 – 177]
\n(Inputs\/Semi-finished\/Finished goods sent for job – work)
\nConditions:
\nRemoval\/Dispatch to the job worker prior to the appointed day&
\n\u00e2\u017e\u00a4 Returned within six months from the appointed day\/extended period\n<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nLiability of Output Duty\/
\nTax as per Earlier Law
\nRefund\/
\nRecovery
\nAssessment\/Adjudication
\nProceeding as per Earlier
\nLaws(any tax\/penalty\/interest)
\nRevision of return as per
\nEarlier Law
\nPENDING REFUND CLAIMS FILED BEFORE THE APPOINTED DAY to be
\ndisposed of as per the provisions of earlier law
\n13
\nREFUND\/RECOVERY [s.179-185]
\nREFUND –
\nPending or accruing from
\nappeal, etc
\nTo be generally paid in Cash (CGST) & as
\nper the provisions of earlier law (SGST)
\nRECOVERY resulting from
\nproceedings under the
\nearlier law
\nRejected Claim of Refund to LAPSE
\nTo be Recovered as an arrear of GST
\nAmount refundable\/recoverable shall not be
\nadmissible as ITC under GST
\n14
\n1
\nLONG TERM
\nCONSTRUCTION \/
\nWORKS CONTRACT
\ns. 186
\nMISCELLANEOUS
\n2
\n# PROGRESSIVE
\n\/PERIODIC SUPPLY
\ns. 187
\n1
\nSupply to be taxed
\nunder GST Law
\n\u2022 Goods and\/or services supplied after the appointed date
\n\u2022 Contract entered prior to the appointed date
\n2
\n3
\nNo Tax to be paid
\nunder GST
\nGoods and<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n16
\nMISCELLANEOUS
\nTAX PAID ON GOODS\/ CAPITAL GOODS LYING WITH AGENTS TO BE
\nALLOWED AS CREDIT [s.192 – 193]
\nGoods belonging to Principal lying with the agent on the appointed day
\nConditions:
\n\u00e2\u017e\u00a4 Agent is registered under GST
\n\u00e2\u017e\u00a4 Principal & Agent both declare the details of stock of Goods lying with the
\nagent immediately preceding the appointed day
\n\u00e2\u017e\u00a4 Invoices were issued not earlier than 12 months prior to the appointed
\nday
\nPrincipal has either reversed or not availed of the ITC in respect of such
\ngoods
\nAgent entitled to take credit of tax paid on such goods<\/p>\n
\n17
\nMISCELLANEOUS
\nTREATMENT OF BRANCH TRANSFERS [S. 194]
\nBranch Transfers
\nInput Tax Credit reversed prior
\nto the appointed day not
\nadmissible as Input Tax Credit
\nunder the GST Law
\nNOTWITHSTANDING ANYTHING TO THE CONTRARY
\nCONTAINED IN THE GST ACT<\/p>\n
\n18
\nMISCELLANEOUS
\nGOODS SENT ON APPROVAL BASIS REJECTED\/RETURNE<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n