Transitional input tax credit entitlement allows eligible registered persons to claim pre-GST VAT credits subject to documentation and conditions. Registered persons, excluding composition taxpayers, may transfer admissible pre-existing Value Added Tax credits into the electronic credit ledger provided returns and prescribed substantiation requirements are satisfied; unavailed capital goods credit may be claimed where admissible under both laws; credits for inputs and inputs-in-stock on the appointed day are allowed for persons newly eligible under the Act if eligible, used for taxable supplies, and supported by invoices or prescribed documents generally issued within twelve months, with prescribed methods governing calculation and special safeguards where invoices are absent.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transitional input tax credit entitlement allows eligible registered persons to claim pre-GST VAT credits subject to documentation and conditions.
Registered persons, excluding composition taxpayers, may transfer admissible pre-existing Value Added Tax credits into the electronic credit ledger provided returns and prescribed substantiation requirements are satisfied; unavailed capital goods credit may be claimed where admissible under both laws; credits for inputs and inputs-in-stock on the appointed day are allowed for persons newly eligible under the Act if eligible, used for taxable supplies, and supported by invoices or prescribed documents generally issued within twelve months, with prescribed methods governing calculation and special safeguards where invoices are absent.
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