Transitional Provisions & its Summary

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..... s well. APPOINTED DAY Section 2 (10) of the Model GST law defines as: appointed day means the date on which section 1 of this Act comes into effect. Section 1 provides for a date when the GST Act will come into force. (This date would be the commencement of the GST Law.) Summary of the Transitional Provisions The following table provides a bird s eye view of the statutory provisions dealing with t .....

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..... nput Service Distributor Input Services eligible for distribution even after the transition date also 140(8) Centralised Registration Carry forward of credit in case of centralised registration of service providers 140(9) Recredit Credit already reversed on account of non payment to vendors will be available for recredit if paid within 3 months 142(1) Goods Returns From registered dealers independ .....

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..... 1) Advances If tax paid under earlier law, no tax payable under current law 142(12) Goods on Approval No tax if returned within 6 months 142(13) TDS on works contract under existing laws. Not liable if payment made after appointed date - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia .....

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