9911796707
TMI BlogTax or duty credit carried forward under any existing law or on goods held in stock on the appointed dayX X X X Extracts X X X X X X X X Extracts X X X X ..... provisions of the said section: Provided that the Commissioner may, on the recommendations of the Council, extend the period of ninety days by a further period not exceeding ninety days. Provided further that where the inputs have been received from an Export Oriented Unit or a unit located in Electronic Hardware Technology Park, the credit shall be allowed to the extent as provided in sub-rule (7) of rule 3 of the CENVAT Credit Rules, 2004 . 3 [ (1A) Notwithstanding anything contained in sub-rule (1), the Commissioner may, on the recommendations of the Council, extend the date for submitting the declaration electronically in FORM GST TRAN-1 by a further period not beyond 7 [ 31st March, 2020 ] , in respect of registered persons who could ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) the date on which the receipt of goods or services is entered in the books of account of the recipient. (3) The amount of credit specified in the application in FORM GST TRAN-1 shall be credited to the electronic credit ledger of the applicant maintained in FORM GST PMT-2 on the common portal. (4) (a) (i) A registered person who was not registered under the existing law shall, in accordance with the proviso to sub-section (3) of section 140, be allowed to avail of input tax credit on goods (on which the duty of central excise or, as the case may be, additional duties of customs under sub-section (1) of section 3 of the Customs Tariff Act, 1975, is leviable) held in stock on the appointed day in respect of which he is not in possession of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rein, the details of supplies of such goods effected during the tax period;] 4 [ Provided that the registered persons filing the declaration in FORM GST TRAN-1 in accordance with sub-rule (1A), may submit the statement in FORM GST TRAN-2 by 8 [ 30th April, 2020 ] . ] (iv) the amount of credit allowed shall be credited to the electronic credit ledger of the applicant maintained in FORM GST PMT-2 on the common portal; and (v) the stock of goods on which the credit is availed is so stored that it can be easily identified by the registered person. ************** NOTES:- 1. Inserted vide Notification no. 15/2017 dated 1.7.2017 w.e.f. 1st day of July, 2017 2. Substituted vide Notification No.12/2018 - Dated 07-03-2018, before it was read as, (iii ..... X X X X Extracts X X X X X X X X Extracts X X X X
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