Section 142 - Miscellaneous transitional provisions.

Transitional input tax credit rules govern refunds, carryforward, and recovery of pre-existing tax paid under prior laws.

Transitional rules govern refunds and credit adjustments where pre-appointed-day taxes were paid and supplies occur around the appointed day: returned goods taxed under the prior law may generate refunds if returned by unregistered persons within the transitional period; price revisions under pre-existing contracts require supplementary invoices, debit notes or credit notes with tax adjustments linked to recipient input credit adjustments; proceedings and claims initiated before or after the appointed day are decided under the existing law with refundable amounts paid in cash and rejected or recoverable amounts ineligible as input tax credit under this Act.