Treatment of the amount recovered or refunded in pursuance of assessment or adjudication proceedings

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..... ssessment or adjudication proceedings instituted, whether before, on or after the appointed day, under the earlier law, any amount of tax, interest, fine or penalty becomes recoverable from the taxable person after the appointed day, the same shall be recovered as an arrear of tax under this Act and the amount so recovered shall not be admissible as input tax credit under this Act. (CGST Law) .....

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..... n the provisions of sub-section (2) of section 11B of the Central Excise Act, 1944. (CGST Law) (2) Where in pursuance of an assessment proceeding instituted, whether before, on or after the appointed day, under the earlier law, any amount of tax, interest, fine or penalty becomes refundable to the taxable person, the same shall be refunded to him in accordance with the provisions of earli .....

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