TaxTMI 
TaxTMI 
RTP was dealing with MRP goods such as vetenary drugs during VAT regime and suffered tax on first point of sale in the State and subsequent sales were not subjected to tax in the state under erstwhile law but liable to tax under gst whether the RTP is eligible to take credit of input tax suffered in his electronic credit ledger as per S.140(3) by filing TRANS 2
Entitlement of Transitional Credit
01 Sep 2022 
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Transitional credit eligibility: registered assessees may file TRANS-2 based on statutory books after judicial directions.
Transitional credit is available where pre-GST duties on opening stock qualify as eligible duties and deemed credit was allowed subject to a prescribed declaration and verification. Where physical verification cannot now occur, judicial directions permit filing the prescribed declaration on the basis of statutory books of accounts; portal access has been opened temporarily. The retrospective proviso should not bar claims supported by records, and any aggrieved registered assessee may pursue the declaration route. (AI Summary)
Transitional credit is available where pre-GST duties on opening stock qualify as eligible duties and deemed credit was allowed subject to a prescribed declaration and verification. Where physical verification cannot now occur, judicial directions permit filing the prescribed declaration on the basis of statutory books of accounts; portal access has been opened temporarily. The retrospective proviso should not bar claims supported by records, and any aggrieved registered assessee may pursue the declaration route. (AI Summary)