Transitional Provisions & its Summary

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..... as well.   APPOINTED DAY Section 2 (10) of the Model GST law defines as: "appointed day'' means the date on which section 1 of this Act comes into effect. Section 1 provides for a date when the GST Act will come into force.  (This date would be the commencement of the GST Law.)   Summary of the Transitional Provisions The following table provides a bird's .....

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..... d for composition dealer Excise Duty Credit embedded in stock to be allowed (only for last one year) 140(7) Input Service Distributor Input Services eligible for distribution even after the transition date also 140(8) Centralised Registration Carry forward of credit in case of centralised registration of service providers 140(9) Recredit Credit already reversed on account of non payment .....

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..... coverable under the current law     If results in excess credit, refund to be claimed under earlier law 142(10) Ongoing Contracts Supplies after appointed date taxable under current law 142(11) Advances If tax paid under earlier law, no tax payable under current law 142(12) Goods on Approval No tax if returned within 6 months     142(13) TDS on works contract .....

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