https://www.taxtmi.com/forum/issue?id=118215 Company sought TRAN credit for VAT-paid inputs; tax department challenged part of the credit alleging supplier non-remittance despite the recipient holding original invoices and proof of payment. Section 140(5) allows transitional credit where the supplier paid tax under the existing law within the prescribed time, the invoice was recorded in the recipient's books within the stipulated period (subject to possible Commissioner extension), and the required statement for taken credit was furnished. en-us Fri, 04 Nov 2022 19:30:06 +0530 Thu, 23 Jan 2025 15:54:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118215 Company sought TRAN credit for VAT-paid inputs; tax department challenged part of the credit alleging supplier non-remittance despite the recipient holding original invoices and proof of payment. Section 140(5) allows transitional credit where the supplier paid tax under the existing law within the prescribed time, the invoice was recorded in the recipient's books within the stipulated period (subject to possible Commissioner extension), and the required statement for taken credit was furnished. Discussion-Forum GST Fri, 04 Nov 2022 19:30:06 +0530 https://www.taxtmi.com/forum/issue?id=118215