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TMI BlogMiscellaneous transitional provisions.X X X X Extracts X X X X X X X X Extracts X X X X ..... rovided that if the said goods are returned by a registered person, the return of such goods shall be deemed to be a supply. (2) (a) Where, in pursuance of a contract entered into prior to the appointed day, the price of any goods is revised upwards on or after the appointed day, the registered person who had sold such goods shall issue to the recipient a supplementary invoice or debit note, containing such particulars as may be prescribed, within thirty days of such price revision and for the purposes of this Act, such supplementary invoice or debit note shall be deemed to have been issued in respect of an outward supply made under this Act. (b) Where, in pursuance of a contract entered into prior to the appointed day, the price of any g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the appointed day shall be disposed of in accordance with the provisions of the existing law: Provided that where any for refund of input tax credit is fully or partially rejected, the amount so rejected shall lapse: Provided further that no refund shall be allowed of any amount of input tax credit where the balance of the said amount as on the appointed day has been carried forward under this Act. (5) (a) Every proceeding of appeal, revision, review or reference relating to a claim for input tax credit initiated whether before, on or after the appointed day, under the existing law shall be disposed of in accordance with the provisions of the existing law, and any amount of credit found to be admissible to the claimant shall be refunded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reference relating to any output tax liability initiated whether before, on or after the appointed day under the existing law, shall be disposed of in accordance with the provisions of the existing law, and any amount found to be admissible to the claimant shall be refunded to him in cash in accordance with the provisions of the existing law and the amount rejected, if any, shall not be admissible as input tax credit under this Act. (7) (a) Where in pursuance of an assessment or adjudication proceedings instituted, whether before, on or after the appointed day, under the existing law, any amount of tax, interest, fine or penalty becomes recoverable from the person, the same shall, unless recovered under the existing law, be recovered as an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er the appointed day in pursuance of a contract entered into prior to the appointed day shall be liable to tax under the provisions of this Act. (10) (a) Notwithstanding anything contained in section 12 of the Central Goods and Services Tax Act, no tax shall be payable on goods under this Act to the extent the tax was leviable on the said goods under the existing law. (b) Notwithstanding anything contained in section 13 of the Central Goods and Services Tax Act, no tax shall be payable on services under this Act to the extent the tax was leviable on the said services under Chapter V of the Finance Act, 1994 (32 of 1994). (c) Where tax was paid on any supply, both under any existing law relating to sale of goods and under Chapter V of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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