https://www.taxtmi.com/forum/issue?id=118220 Transitional credit under Section 140(3) may be allowed where invoice evidence of central duty is absent, but such claims are subject to prescribed conditions, limitations and safeguards and require that the taxable person pass on the benefit by way of reduced prices; the TRANS 2 deemed credit mechanism may apply and can be limited, so claimants should maintain stock records, reconcile purchases, follow prescribed rates and document that benefits were passed to recipients. en-us Wed, 09 Nov 2022 18:26:10 +0530 Thu, 23 Jan 2025 15:54:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118220 Transitional credit under Section 140(3) may be allowed where invoice evidence of central duty is absent, but such claims are subject to prescribed conditions, limitations and safeguards and require that the taxable person pass on the benefit by way of reduced prices; the TRANS 2 deemed credit mechanism may apply and can be limited, so claimants should maintain stock records, reconcile purchases, follow prescribed rates and document that benefits were passed to recipients. Discussion-Forum GST Wed, 09 Nov 2022 18:26:10 +0530 https://www.taxtmi.com/forum/issue?id=118220