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TRANSITIONAL PROVISIONS-PART-XII

Goods and Services Tax - GST - By: - Pradeep Jain - Dated:- 10-1-2017 - GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN 197. Transitional provisions for availing Cenvat credit in certain cases This provision has been added to as to provide for treatment of such cenvat which was reversed before the appointed day due to non-payment of consideration within a period of 3 months. This provision states that in such situation such credit can be reclaimed provided that the taxable person has made the paym .....

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the period of 3 months from the appointed day due to various reasons, so this provision will hamper the rightfully availed cenvat by them. In other instance where the services receiver generally retains a certain amount of contract value as retention charges and does not avail the cenvat on account of non-payment, he will also have to suffer due to this provision because the retention charges are paid generally at the completion of the contract. In other cases, certain entities avail the cenvat .....

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