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<h1>Transitional input tax credit rules govern refunds, credit carryforward and treatment of pre appointed day supplies under GST implementation.</h1> Transitional provisions prescribe that returns of certain goods sold shortly before the appointed day qualify for refund of tax paid under the existing law when returned by unregistered persons, while returns by registered persons are treated as supplies; price revisions under pre existing contracts require supplementary invoices or debit notes for increases and allow credit notes for decreases with recipient adjustment of input tax credit; proceedings and refund claims under the existing law are to be disposed of under that law, with amounts recovered as arrears under this Act not admissible as input tax credit.
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