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Home Acts & Rules GST Acts UNION TERRITORY GOODS AND SERVICES TAX ACT, 2017 Chapters List Chapter VIII TRANSITIONAL PROVISIONS This
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Section 18 - Transitional arrangements for input tax credit. - UNION TERRITORY GOODS AND SERVICES TAX ACT, 2017

Extract

..... ere he has not furnished all the returns required under the existing law for the period of six months immediately preceding the appointed day; or (iii) where the said amount of credit relates to goods sold under such exemption notifications as are notified by the Government: Provided further that so much of the said credit as is attributable to any claim related to section 3, sub-section (3) of section 5, section 6 or section 6A or sub-section (8) of section 8 of the Central Sales Tax Act, 1956 (74 of 1956.) that is not substantiated in the manner, and within the period, prescribed in rule 12 of the Central Sales Tax (Registration and Turnover) Rules, 1957 shall not be eligible to be credited to the electronic credit ledger: Provided also t .....

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Section 18 - Transitional arrangements for input tax credit. - UNION TERRITORY GOODS AND SERVICES TAX ACT, 2017

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..... have suffered tax at first point of their sale in the Union territory and the subsequent sales of which are not subject to tax in the Union territory under the existing law but which are liable to tax under this Act or where the person was entitled to the credit of input tax at the time of sale of goods, shall be entitled to take, in his electronic credit ledger, credit of the value added tax and entry tax, if any, in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day subject to the following conditions, namely:- (i) such inputs or goods are used or intended to be used for making taxable supplies under this Act; (ii) the said registered person is eligible for input tax .....

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Section 18 - Transitional arrangements for input tax credit. - UNION TERRITORY GOODS AND SERVICES TAX ACT, 2017

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..... ing to such exempted goods or tax free goods in accordance with the provisions of sub-section (3). (5) A registered person shall be entitled to take, in his electronic credit ledger, credit of value added tax and entry tax, if any, in respect of inputs received on or after the appointed day but the tax in respect of which has been paid by the supplier under the existing law, subject to the condition that the invoice or any other tax paying document of the same was recorded in the books of account of such person within a period of thirty days from the appointed day: Provided that the period of thirty days may, on sufficient cause being shown, be extended by the Commissioner for a further period not exceeding thirty days: Provided further tha .....

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Section 18 - Transitional arrangements for input tax credit. - UNION TERRITORY GOODS AND SERVICES TAX ACT, 2017

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