Section 142 – Miscellaneous transitional provisions of CGST ACT, 2017<\/p>\n
142. (1) Where any goods on which duty, if any, had been paid under the existing law
\nat the time of removal thereof, not being earlier than six months prior to the appointed day, are
\nreturned to any place of business on or after the appointed day, the registered person shall
\nbe eligible for refund of the duty paid under the existing law where such goods are returned
\nby a person, other than a registered person, to the said place of business within a period of
\nsix months from the appointed day and such goods are identifiable to the satisfaction of the
\nproper officer:
\nProvided that if the said goods are returned by a registered person, the return of such
\ngoods shall be deemed to be a supply.
\n(2) (a) where, in pursuance of a contract entered into prior to the appointed day, the
\nprice of any goods or services or both is revised upwards on or after the appointed day, the
\nregistered person who had removed or provided such goods or services or both shall issue
\nto the recipient a supplementary invoice or debit note, containing such particulars as may be
\nprescribed, within thirty days of such price revision and for the purposes of this Act such
\nsupplementary invoice or debit note shall be deemed to have been issued in respect of an
\noutward supply made under this Act;
\n(b) where, in pursuance of a contract entered into prior to the appointed day, the price of any goods or services or both is revised downwards on or after the appointed day, the
\nregistered person who had removed or provided such goods or services or both may issue
\nto the recipient a credit note, containing such particulars as may be prescribed, within thirty
\ndays of such price revision and for the purposes of this Act such credit note shall be deemed
\nto have been issued in respect of an outward supply made under this Act:<\/p>\n
Provided that the registered person shall be allowed to reduce his tax liability on
\naccount of issue of the credit note only if the recipient of the credit note has reduced his
\ninput tax credit corresponding to such reduction of tax liability.
\n(3) Every claim for refund filed by any person before, on or after the appointed day, for \u00a0refund of any amount of CENVAT credit, duty, tax, interest or any other amount paid under
\nthe existing law, shall be disposed of in accordance with the provisions of existing law and
\nany amount eventually accruing to him shall be paid in cash, notwithstanding anything to
\nthe contrary contained under the provisions of existing law other than the provisions of
\nsub-section (2) of section 11B of the Central Excise Act, 1944:
\nProvided that where any claim for refund of CENVAT credit is fully or partially rejected,
\nthe amount so rejected shall lapse:
\nProvided further that no refund shall be allowed of any amount of CENVAT credit
\nwhere the balance of the said amount as on the appointed day has been carried forward
\nunder this Act.
\n(4) Every claim for refund filed after the appointed day for refund of any duty or tax
\npaid under existing law in respect of the goods or services exported before or after the
\nappointed day, shall be disposed of in accordance with the provisions of the existing law:
\nProvided that where any claim for refund of CENVAT credit is fully or partially rejected,
\nthe amount so rejected shall lapse:
\nProvided further that no refund shall be allowed of any amount of CENVAT credit
\nwhere the balance of the said amount as on the appointed day has been carried forward
\nunder this Act.
\n(5) Every claim filed by a person after the appointed day for refund of tax paid under
\nthe existing law in respect of services not provided shall be disposed of in accordance with
\nthe provisions of existing law and any amount eventually accruing to him shall be paid in
\ncash, notwithstanding anything to the contrary contained under the provisions of existing
\nlaw other than the provisions of sub-section (2) of section 11B of the Central Excise
\nAct, 1944.
\n(6) (a) every proceeding of appeal, review or reference relating to a claim for CENVAT
\ncredit initiated whether before, on or after the appointed day under the existing law shall be
\ndisposed of in accordance with the provisions of existing law, and any amount of credit
\nfound to be admissible to the claimant shall be refunded to him in cash, notwithstanding
\nanything to the contrary contained under the provisions of existing law other than the
\nprovisions of sub-section (2) of section 11B of the Central Excise Act, 1944 and the amount
\nrejected, if any, shall not be admissible as input tax credit under this Act:
\nProvided that no refund shall be allowed of any amount of CENVAT credit where the
\nbalance of the said amount as on the appointed day has been carried forward under
\nthis Act;
\n(b) every proceeding of appeal, review or reference relating to recovery of CENVAT
\ncredit initiated whether before, on or after the appointed day under the existing law shall be
\ndisposed of in accordance with the provisions of existing law and if any amount of credit
\nbecomes recoverable as a result of such appeal, review or reference, the same shall, unless
\nrecovered under the existing law, be recovered as an arrear of tax under this Act and the
\namount so recovered shall not be admissible as input tax credit under this Act.
\n(7) (a) every proceeding of appeal, review or reference relating to any output duty or
\ntax liability initiated whether before, on or after the appointed day under the existing law,
\nshall be disposed of in accordance with the provisions of the existing law, and if any<\/p>\n
amount becomes recoverable as a result of such appeal, review or reference, the same shall,
\nunless recovered under the existing law, be recovered as an arrear of duty or tax under this
\nAct and the amount so recovered shall not be admissible as input tax credit under this
\nAct.
\n(b) every proceeding of appeal, review or reference relating to any output duty or tax
\nliability initiated whether before, on or after the appointed day under the existing law, shall be
\ndisposed of in accordance with the provisions of the existing law, and any amount found to
\nbe admissible to the claimant shall be refunded to him in cash, notwithstanding anything to
\nthe contrary contained under the provisions of existing law other than the provisions of
\nsub-section (2) of section 11B of the Central Excise Act, 1944 and the amount rejected, if any,
\nshall not be admissible as input tax credit under this Act.
\n(8) (a) where in pursuance of an assessment or adjudication proceedings instituted,
\nwhether before, on or after the appointed day, under the existing law, any amount of tax,
\ninterest, fine or penalty becomes recoverable from the person, the same shall, unless recovered
\nunder the existing law, be recovered as an arrear of tax under this Act and the amount so
\nrecovered shall not be admissible as input tax credit under this Act;
\n(b) where in pursuance of an assessment or adjudication proceedings instituted, whether
\nbefore, on or after the appointed day, under the existing law, any amount of tax, interest, fine
\nor penalty becomes refundable to the taxable person, the same shall be refunded to him in
\ncash under the said law, notwithstanding anything to the contrary contained in the said law
\nother than the provisions of sub-section (2) of section 11B of the Central Excise Act, 1944
\nand the amount rejected, if any, shall not be admissible as input tax credit under this Act.
\n(9) (a) where any return, furnished under the existing law, is revised after the appointed
\nday and if, pursuant to such revision, any amount is found to be recoverable or any amount
\nof CENVAT credit is found to be inadmissible, the same shall, unless recovered under the
\nexisting law, be recovered as an arrear of tax under this Act and the amount so recovered shall
\nnot be admissible as input tax credit under this Act;
\n(b) where any return, furnished under the existing law, is revised after the appointed
\nday but within the time limit specified for such revision under the existing law and if, pursuant
\nto such revision, any amount is found to be refundable or CENVAT credit is found to be
\nadmissible to any taxable person, the same shall be refunded to him in cash under the existing
\nlaw, notwithstanding anything to the contrary contained in the said law other than the
\nprovisions of sub-section (2) of section 11B of the Central Excise Act, 1944 and the amount
\nrejected, if any, shall not be admissible as input tax credit under this Act.
\n(10) Save as otherwise provided in this Chapter, the goods or services or both supplied
\non or after the appointed day in pursuance of a contract entered into prior to the appointed
\nday shall be liable to tax under the provisions of this Act.
\n(11) (a) notwithstanding anything contained in section 12, no tax shall be payable on
\ngoods under this Act to the extent the tax was leviable on the said goods under the Value
\nAdded Tax Act of the State;
\n(b) notwithstanding anything contained in section 13, no tax shall be payable on
\nservices under this Act to the extent the tax was leviable on the said services under
\nChapter V of the Finance Act, 1994;
\n(c) where tax was paid on any supply both under the Value Added Tax Act and under
\nChapter V of the Finance Act, 1994, tax shall be leviable under this Act and the taxable person
\nshall be entitled to take credit of value added tax or service tax paid under the existing law to
\nthe extent of supplies made after the appointed day and such credit shall be calculated in
\nsuch manner as may be prescribed.<\/p>\n
(12) Where any goods sent on approval basis, not earlier than six months before the
\nappointed day, are rejected or not approved by the buyer and returned to the seller on or after
\nthe appointed day, no tax shall be payable thereon if such goods are returned within six
\nmonths from the appointed day:
\nProvided that the said period of six months may, on sufficient cause being shown, be
\nextended by the Commissioner for a further period not exceeding two months:
\nProvided further that the tax shall be payable by the person returning the goods if such
\ngoods are liable to tax under this Act, and are returned after a period specified in this
\nsub-section:
\nProvided also that tax shall be payable by the person who has sent the goods on
\napproval basis if such goods are liable to tax under this Act, and are not returned within a
\nperiod specified in this sub-section.
\n(13) Where a supplier has made any sale of goods in respect of which tax was required
\nto be deducted at source under any law of a State or Union territory relating to Value Added
\nTax and has also issued an invoice for the same before the appointed day, no deduction of tax
\nat source under section 51 shall be made by the deductor under the said section where
\npayment to the said supplier is made on or after the appointed day.
\nExplanation.\u2013\u2013For the purposes of this Chapter, the expressions \u201ccapital goods\u201d,
\n\u201cCentral Value Added Tax (CENVAT) credit\u201d, \u201cfirst stage dealer\u201d, \u201csecond stage dealer\u201d, or
\n\u201cmanufacture\u201d shall have the same meaning as respectively assigned to them in the
\nCentral Excise Act, 1944 or the rules made thereunder.<\/p>\n","protected":false},"excerpt":{"rendered":"
Section 142 – Miscellaneous transitional provisions of CGST ACT, 2017 142. (1) Where any goods on which duty, if any, had been paid under the existing law at the time of removal thereof, not being earlier than six months prior to the appointed day, are returned to any place of business on or after the … Continue reading “Section 142 – Miscellaneous transitional provisions of CGST ACT, 2017”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/415"}],"collection":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/comments?post=415"}],"version-history":[{"count":1,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/415\/revisions"}],"predecessor-version":[{"id":416,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/415\/revisions\/416"}],"wp:attachment":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/media?parent=415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/categories?post=415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/tags?post=415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}