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Credit of eligible duties and taxes in respect of inputs held in stock to be allowed in certain situations

Section 145 - Draft-Bills-Reports - TRANSITIONAL PROVISIONS - Goods and Services Tax - Section 145 - 145. (1) A registered taxable person, who was not liable to be registered under the earlier law or who was engaged in the manufacture of exempted goo .....

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goods held in stock on the appointed day subject to the following conditions: (i) such inputs and / or goods are used or intended to be used for making taxable supplies under this Act; (ii) the said taxable person was eligible for cenvat credit on re .....

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le person is in possession of invoice and/or other prescribed documents evidencing payment of duty / tax under the earlier law in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed d .....

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accounting principles in such manner as may be prescribed. (3) The amount taken as credit under sub-section (1) shall be recovered as an arrear of tax under this Act from the taxable person if the said amount is found to be recoverable as a result of .....

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ecified in the First Schedule to the Central Excise Tariff Act, 1985(5 of 1986); (ii) the duty of excise specified in the Second Schedule to the Central Excise Tariff Act, 1985(5 of 1986); (iii) the additional duty of excise leviable under section 3 .....

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onal Calamity Contingent Duty leviable under section 136 of the Finance Act, 2001(14 of 2001); (vi) the additional duty leviable under sub-section (1) of section 3 of the Customs Tariff Act, 1975 (51 of 1975); (vii) the additional duty leviable under .....

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shed goods held in stock on the appointed day. (CGST Law) (1) A registered taxable person, who was not liable to be registered under the earlier law or who was engaged in the sale of exempted goods under the earlier law but which are liable to tax un .....

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ing conditions: (i) such inputs and / or goods are used or intended to be used for making taxable supplies under this Act; (ii) the said taxable person was eligible for input tax credit on purchase of such inputs and/or goods under the earlier law bu .....

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