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of <h1>Section 142 of Tripura GST Act 2017: Transitional Tax Adjustments, Refunds, and Input Credit Clauses Explained</h1> Section 142 of the Tripura Goods and Services Tax Act, 2017, outlines transitional provisions for tax adjustments during the transition to the new GST regime. It addresses scenarios such as goods returned after the appointed day, price revisions in pre-existing contracts, and claims for refunds of input tax credits. The section stipulates that refunds and recoveries should follow the existing law, with specific conditions for admissibility of input tax credits. It also provides for tax treatment of goods sent on approval, tax deductions at source, and credits for agents holding goods on behalf of principals, ensuring compliance with prescribed conditions.
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