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of <h1>Section 142 MGST Act: Transitional Provisions for Tax Regime Shift, Refunds, Contract Adjustments, and Input Tax Credit</h1> Section 142 of the Maharashtra Goods and Services Tax Act, 2017 outlines transitional provisions for the shift to the new tax regime. It addresses refunds for goods returned within six months of the transition, adjustments in contract prices, and the handling of claims for input tax credit and tax liabilities under the previous law. The section specifies conditions for tax credit on goods with agents and rules for goods on approval. It also clarifies the non-applicability of tax on supplies taxed under previous laws and provides guidelines for handling appeals and revisions related to tax liabilities or credits.
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