Tax Management India. Com
                            Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals SMS News Articles
Highlights
        Home        
 
Extracts
Home List
← Previous Next →

Central Goods and Services Tax (Amendment) Act, 2018- Clarification regarding section 140(1) of the CGST Act, 2017

Goods and Services Tax - 87/06/2019 - Dated:- 2-1-2019 - Circular No. 87/06/2019-GST F. No. 267/80/2018-CX.8 Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs New Delhi, the 2nd Jan, 2019 To The .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he CGST (Amendment) Act, 2018 (No. 31 of 2018) which provides that section 140(1) of the CGST Act, 2017 be amended with retrospective effect to allow transition of CENVAT credit under the existing law viz. Central Excise and Service Tax law, only in .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f the Central Goods and Services Act (hereinafter referred to as Act ), for the purposes of uniformity in the implementation of the Act, the Central Board of Indirect Taxes and Customs hereby directs the following: 3.1 The CENVAT credit of service ta .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n provisions of section 140(1) and the explanations to section 140 need to be read harmoniously such that neither any provision of the amendment becomes otiose nor does the legislative intent of the amendment get defeated. ii) The intention behind th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

is clear that the transition of credit of taxes paid under section 66B of the Finance Act, 1994 was never intended to be disallowed under section 140(1) and therefore no such remark was present in the document. iii) Under tax statutes, the word duti .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

within its fold the duties which are listed as "eligible duties at sl. no. (i) to (vii) of explanation 1, and eligible duties and taxes at sl. no. (i) to (viii) of explanation 2 to section 140, since the expression eligible duties and taxes has .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nput services in transit, as referred to in Explanation 2 to section 140. 4. Further, it has been decided not to notify the clause (i) of sub-section (b) of section 28 and clause (i) of sub-section (c) of section 28 of CGST (Amendment) Act, 2018 whic .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.