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Rule 117 - Tax or duty credit carried forward under any existing law or on goods held in stock on the appointed day - Central Goods and Services Tax Rules, 2017

Extract

..... where the inputs have been received from an Export Oriented Unit or a unit located in Electronic Hardware Technology Park, the credit shall be allowed to the extent as provided in sub-rule (7) of rule 3 of the CENVAT Credit Rules, 2004. 3[(1A) Notwithstanding anything contained in sub-rule (1), the Commissioner may, on the recommendations of the Council, extend the date for submitting the declaration electronically in FORM GST TRAN-1 by a further period not beyond 7[31st March, 2020], in respect of registered persons who could not submit the said declaration by the due date on account of technical difficulties on the common portal and in respect of whom the Council has made a recommendation for such extension.] (2) Every declaration under .....

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Rule 117 - Tax or duty credit carried forward under any existing law or on goods held in stock on the appointed day - Central Goods and Services Tax Rules, 2017

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..... edit ledger of the applicant maintained in FORM GST PMT-2 on the common portal. (4) (a) (i) A registered person who was not registered under the existing law shall, in accordance with the proviso to sub-section (3) of section 140, be allowed to avail of input tax credit on goods (on which the duty of central excise or, as the case may be, additional duties of customs under sub-section (1) of section 3 of the Customs Tariff Act, 1975, is leviable) held in stock on the appointed day in respect of which he is not in possession of any document evidencing payment of central excise duty. (ii) The input tax credit referred to in sub-clause (i) shall be allowed at the rate of sixty per cent. on such goods which attract central tax at the rate of ni .....

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Rule 117 - Tax or duty credit carried forward under any existing law or on goods held in stock on the appointed day - Central Goods and Services Tax Rules, 2017

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..... n FORM GST TRAN-2 by 8[30th April, 2020].] (iv) the amount of credit allowed shall be credited to the electronic credit ledger of the applicant maintained in FORM GST PMT-2 on the common portal; and (v) the stock of goods on which the credit is availed is so stored that it can be easily identified by the registered person. ************** Notes: 1. Inserted vide Notification no. 15/2017 dated 1.7.2017 w.e.f. 1st day of July, 2017 2. Substituted vide Notification No.12/2018 - Dated 07-03-2018, before it was read as, "(iii) the registered person availing of this scheme and having furnished the details of stock held by him in accordance with the provisions of clause (b) of sub-rule (2), submits a statement in FORM GST TRAN 2 at the end of .....

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Rule 117 - Tax or duty credit carried forward under any existing law or on goods held in stock on the appointed day - Central Goods and Services Tax Rules, 2017

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  1. Notification No. 2/2020 - Dated: 1-1-2020 - Central Goods and Services Tax (Amendment) Rules, 2020
  2. Notification No. 49/2019 - Dated: 9-10-2019 - Central Goods and Services Tax (Sixth Amendment) Rules, 2019
  3. Notification No. Order No. 01/2019-GST - Dated: 31-1-2019 - Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117(1A) of the Central Goods and Service Tax Rules, 2017 in certain cases
  4. Notification No. Order No. 4/2018 - Dated: 17-9-2018 - Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117(1A) of the Central Goods and Service Tax Rules, 2017 in certain cases
  5. Notification No. Order No. 1 /2018 - Dated: 28-3-2018 - Extension of date for submitting the statement in FORM GST TRAN-2 under rule 117(4)(b)(iii) of the Central Goods and Service Tax Rules, 2017
  6. Notification No. Order No. 9/2017 - Dated: 15-11-2017 - Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117 of the Central Goods and Service Tax Rules, 2017
  7. Notification No. Order No.07/2017 - Dated: 28-10-2017 - Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117 of the Central Goods and Services Tax Rules, 2017
  8. Notification No. Order No. 03/2017 - Dated: 21-9-2017 - Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117 of the Central Goods and Services Tax Rules, 2017
  9. Notification No. 48/2018 - Dated: 10-9-2018 - Seeks to make amendments (Ninth Amendment, 2018) to the CGST Rules, 2017
  10. Notification No. 12/2018 - Dated: 7-3-2018 - Central Goods and Services Tax (Second Amendment) Rules, 2018
  11. Notification No. 36/2017 - Dated: 29-9-2017 - Eighth amendment to CGST Rules, 2017
  12. Notification No. 23/2017 - Dated: 17-8-2017 - Seeks to notify the date and conditions for filing the return in FORM GSTR-3B for the month of July, 2017
  13. Notification No. 2/2017 - Dated: 1-7-2017 - Goods and Services Tax Compensation Cess Rules, 2017
  14. Notification No. 15/2017 - Dated: 1-7-2017 - The Central Goods and Services Tax (Third Amendment) Rules, 2017.

 

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