Transitional GST provisions: treatment of returned goods, credit notes, and continuation of prior law refund and recovery processes.

Transitional rules provide that goods returned within six months after the appointed day are refundable where tax was paid under prior law and identifiable, returns by registered persons are supplies, price revisions under pre appointed contracts permit supplementary invoices or credit notes within thirty days (with recipient reversal of input tax credit required for supplier tax reduction), and proceedings or refund claims arising under the existing law are to be disposed of under that law with refunds in cash while amounts recovered or rejected become arrears under this Act and are not admissible as input tax credit.

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