https://www.taxtmi.com/circulars?id=60842 The amendment to section 140(1) clarifies that CENVAT credit of service tax under the prior law qualifies as transitional credit because "eligible duties" must be read harmoniously with the explanations to section 140, and the terms "duties" and "taxes" are interchangeable in the statute; "eligible duties" encompasses the categories listed in Explanation 1 and "eligible duties and taxes" in Explanation 2, but does not import the stock-or-transit conditions of those Explanations. Transition of cesses is excluded under Explanation 3. en-us Fri, 11 Jan 2019 00:00:00 +0530 Wed, 08 May 2019 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=60842 The amendment to section 140(1) clarifies that CENVAT credit of service tax under the prior law qualifies as transitional credit because "eligible duties" must be read harmoniously with the explanations to section 140, and the terms "duties" and "taxes" are interchangeable in the statute; "eligible duties" encompasses the categories listed in Explanation 1 and "eligible duties and taxes" in Explanation 2, but does not import the stock-or-transit conditions of those Explanations. Transition of cesses is excluded under Explanation 3. Circulars GST Fri, 11 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=60842