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TRANSITIONAL PROVISIONS-PART-IX

Goods and Services Tax - GST - By: - Pradeep Jain - Dated:- 6-1-2017 - GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN 179. Pending refund claims to be disposed of under earlier law This section provides for the treatment of such refund claims which have been filed before the appointed day in respect of any tax, amount of cenvat credit, duty, tax or interest paid before the appointed day. It provides that all such claims will be disposed off as according the rules laid down in the previous law its .....

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ses from the FOB value and this is compared with transaction value shown in ARE-1. Hence, the rebate claim is allowed in this value and rest is allowed as credit. But because under the new law, old taxes and duties won t exist, such cenvat will be of no use. Apart from this, one amendment has also been bought in form of a proviso which reads as follows: PROVIDED FURTHER that no refund claim shall be allowed of any amount of Cenvat credit where the balance of the said amount as on the appointed d .....

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the claim. This provision has been incorporated recently. But earlier the amount was debited only after sanction of rebate claim so that exact amount is debited in the cenvat credit account. If such type of situation emerge where the amount is not debited and it is carried forwarded in GST then claim will not be allowed. Two new sections have been added after the above sections. These are: 180. Refund claims filed after the appointed day for goods cleared or services provided before the appointe .....

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