Seeks to notify the transition plan with respect to J&K reorganization w.e.f. 31.10.2019

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.... exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Government, on the recommendations of the Council, hereby notifies those persons whose principal place of business or place of business lies in the erstwhile State of Jammu and Kashmir till the 30th day of October, 2019; and lies in the Union ....

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....st October, 2019 till the transition date, pay the appropriate applicable tax in the return under section 39 of the said Act; (iii) have an option to transfer the input tax credit (ITC) from the registered Goods and Services Tax Identification Number (GSTIN), till the ^1[31st day of December, 2019] in the State of Jammu and Kashmir, to the new GSTIN in the Union territory of Jammu and Kas....

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....N would be crediting the equal amount of ITC in its electronic credit ledger in Table 4 (A) (5) of FORM GSTR-3B. 3. The balance of State taxes in electronic credit ledger of the said class of persons, whose principal place of business lies in the Union territory of Ladakh from the ^2[1st day of January, 2020], shall be transferred as balance of Union territory tax in the electronic credit ledge....