Time Limit for Transitional ITC Under GST TRANS-1 is Mandatory, Not Advisory, per Section 140 Interpretation.

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....Period of limitation for transitional credit - GST TRANS-1 - In this case, the peremptory word "shall" is used. The relevant rule deals with the time limit for availing Transitional ITC by carrying it forward from the credit balance under tax legislations which have been repealed and replaced by the CGST Act. Thus, the object and purpose of Section 140 clearly warrants the necessity to be finite. ITC has been held to be a concession and not a vested right. - On weighing all the relevant factors, which may be not be conclusive in isolation, in the balance, we conclude that the time limit is mandatory and not directory.....