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

Section 169 - Draft-Bills-Reports - TRANSITIONAL PROVISIONS - MODEL GST LAW - Draft The Central / State Goods and Services Tax Act, 2016 - [November 2016] - Section 169 - 169. (1) A registered taxable person, who was not liable to be registered under .....

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rst stage dealer or a second stage dealer or a registered importer, shall be entitled to take, in his electronic credit ledger, credit of eligible duties and taxes in respect of inputs held in stock and inputs contained in semi-finished or finished g .....

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by way of reduced prices to the recipient; (iii) the said taxable person is eligible for input tax credit on such inputs under this Act; (iv) the said taxable person is in possession of invoice and/or other prescribed documents evidencing payment of .....

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batement under the Act: PROVIDED that where a registered taxable person, other than a manufacturer or a supplier of services, is not in possession of an invoice or any other documents evidencing payment of duty in respect of inputs, then such registe .....

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er as may be prescribed. Explanation.- For the purpose of this section and section 170, section 171 and section 172, the expression eligible duties and taxes means- (i) the duty of excise specified in the First Schedule to the Central Excise Tariff A .....

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cles) Act, 1978 (40 of 1978); (iv) the additional duty of excise leviable under section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957(58 of 1957); (v) the National Calamity Contingent Duty leviable under section 136 of .....

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5 (51 of 1975); and (viii) the service tax leviable under section 66B of the Finance Act, 1994 (32 of 1994);- in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day. (CGST Law) (1 .....

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redit ledger, credit of the Value Added Tax [and entry tax] 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: (i) such inputs and / or go .....

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