Transitional input tax credit rules define refund, credit note and arrear recovery consequences under GST transition. Transition rules allow refund of tax paid under the existing law for goods returned by non-registered buyers within six months if identifiable; returns by registered buyers are deemed supplies. Post-appointed-day price revisions under pre-existing contracts require supplementary invoices/debit notes for upward revisions and allow credit notes for downward revisions, with credit effective only if the recipient reduces his input tax credit. Refunds and dispute proceedings initiated under the existing law are to be disposed under that law with refundable amounts paid in cash; recoverable or rejected amounts become non-admissible as input tax credit and may be recovered as arrears under the GST Act.
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 rules define refund, credit note and arrear recovery consequences under GST transition.
Transition rules allow refund of tax paid under the existing law for goods returned by non-registered buyers within six months if identifiable; returns by registered buyers are deemed supplies. Post-appointed-day price revisions under pre-existing contracts require supplementary invoices/debit notes for upward revisions and allow credit notes for downward revisions, with credit effective only if the recipient reduces his input tax credit. Refunds and dispute proceedings initiated under the existing law are to be disposed under that law with refundable amounts paid in cash; recoverable or rejected amounts become non-admissible as input tax credit and may be recovered as arrears under the GST Act.
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