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Unavailed cenvat credit on capital goods, not carried forward in a return, to be allowed in certain situations

Section 168 - Draft-Bills-Reports - TRANSITIONAL PROVISIONS - Goods and Services Tax - Section 168 - 168. A registered taxable person, other than a person opting to pay tax under section 9, shall be entitled to take, in his electronic credit ledger, .....

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: PROVIDED that the registered taxable person shall not be allowed to take credit unless the said credit was admissible as cenvat credit under the earlier law and is also admissible as input tax credit under this Act: Explanation 1.- For the purposes .....

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cenvat credit to which the said person was entitled in respect of the said capital goods under the earlier law. Explanation 2.- Capital goods means the goods as defined under clause (a) of rule 2 of CENVAT Credit Rules, 2004. (CGST Law) A registered .....

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