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of <h1>Section 142 of West Bengal GST Act, 2017: Transitional Tax Adjustments for Goods Returns, Price Revisions, and Refund Claims.</h1> Section 142 of the West Bengal Goods and Services Tax Act, 2017 outlines transitional provisions for tax adjustments during the shift to the new GST regime. It addresses scenarios such as the return of goods sold before the appointed day, price revisions in pre-existing contracts, and claims for refunds of input tax credit or taxes paid under the previous law. The section specifies that refunds and tax liabilities will be handled according to existing laws, with certain exceptions for goods returned or sold under specific conditions. It also details the treatment of goods on approval and the handling of stock with agents on the appointed day.
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