https://www.taxtmi.com/acts?id=26326 Transitional rules govern refunds, input tax credit and recovery where transactions or proceedings span the appointed day. Refunds of tax paid under the existing law are allowed for identifiable returned goods returned by unregistered persons within the return period; returns by registered persons are deemed supplies. Supplementary invoices or debit notes are required for upward price revisions, credit notes may be issued for downward revisions subject to recipient reduction of input tax credit. Amounts refundable under existing law are paid in cash under that law; rejected amounts or amounts carried forward under this Act are not admissible as input tax credit, and recoverable amounts unpaid under the existing law become arrears under this Act. en-us Sat, 17 Jun 2017 15:34:17 +0530 Sat, 29 Jul 2017 11:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26326 Transitional rules govern refunds, input tax credit and recovery where transactions or proceedings span the appointed day. Refunds of tax paid under the existing law are allowed for identifiable returned goods returned by unregistered persons within the return period; returns by registered persons are deemed supplies. Supplementary invoices or debit notes are required for upward price revisions, credit notes may be issued for downward revisions subject to recipient reduction of input tax credit. Amounts refundable under existing law are paid in cash under that law; rejected amounts or amounts carried forward under this Act are not admissible as input tax credit, and recoverable amounts unpaid under the existing law become arrears under this Act. Act-Rules GST - States Sat, 17 Jun 2017 15:34:17 +0530 https://www.taxtmi.com/acts?id=26326