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The High Court interpreted Section 140(5) of the CGST Act regarding transition of credit. The petitioner sought extension under the proviso to Section 140(5) but was rejected for not filing within the time limit. The section allows credit for duties/taxes on inputs received post the appointed day if recorded within 30 days, extendable by Commissioner for another 30 days on showing sufficient cause. The court held that the rejection based on late filing was incorrect as the provision allows for an extension. The impugned order was set aside, and the appeal was disposed of.
The High Court interpreted Section 140(5) of the CGST Act regarding transition of credit. The petitioner sought extension under the proviso to Section 140(5) but was rejected for not filing within the time limit. The section allows credit for duties/taxes on inputs received post the appointed day if recorded within 30 days, extendable by Commissioner for another 30 days on showing sufficient cause. The court held that the rejection based on late filing was incorrect as the provision allows for an extension. The impugned order was set aside, and the appeal was disposed of.
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