Grounds advanced for inclusion of transitional credit in Net ITC for determination of Refund amount: There is view expressed in recent article by a learned friend that in terms of section 140 (entitled to take), taxpayer avails the transitional credit afresh under GST and thereby it is permissible to include them in Net ITC and the IT processes in place also supports this contention.
Manner of determination of ITC of services associated with Capital goods – whether under Rule 42 as input services or Rule 43 as Capital Goods. Position in CENVAT vis a vis GST regime.
