GENERAL PROVISIONS [Sec.141]

•  Appointment of GST Officials/competent authority (sec.141)

State/Central officials being subsumed in GST will continue in office on the appointed day & shall be deemed to be appointed as GST officials/ competent authority.

• The centre/state govt. shall have the power to issue orders or make rules for smooth transition to GST so long such matters are not in conflict with the purposes of the Act.

MIGRATION OF EXISTING TAX PAYERS’ TO GST

MIGRATION 1

CENVAT/VAT CREDIT [s.143-147]

CENVATCenvat credit

CENVAT/VAT CREDIT [s.143-144]

2

INPUT CREDIT ON STOCK OF GOODS HELD [s. 145-146]

3

√  Inputs are used for making taxable supplies

√ Inputs were otherwise available for CENVAT/VAT Credit if the taxable person had not been a manufacturer of exempted goods/not in Composition/had liability under the earlier law& credit is available on it in GST

√ Is in possession of valid invoice, etc which were issued not earlier than 12 months from the appointed day

√ Amount of credit to be calculated as per the generally accepted accounting  Principles (in short GAAP)

INPUT CREDIT ON STOCK OF GOODS HELD [s. 147]

4

GOODS RETURN [s.148-149]

When,

⇒ Goods were removed/sold within 6 months prior to the appointed day &

⇒ Returned within 6 months from the appointed day

⇒ If Proper Officer can satisfactorily identify the goods, then for

5

JOB WORK [s.150-152]

(Inputs/Semi-finished/Finished goods sent for job-work)

Conditions:6

⇒  Removal/Dispatch to the job worker prior to the appointed day&

⇒ Returned within six months from the appointed day/extended period (not more than 2 months)

⇒ Manufacturer & Job Worker both declare the details of Inputs/Semi-finished/Finished Goods held in stock by the Job Worker on the appointed date

 

7

PRICE REVISION [s.153]

8

REFUND/RECOVERY [s.154-158]

9

REFUND/RECOVERY [s.154-158]

10

11

MISCELLANEOUS

13

MISCELLANEOUS

CREDIT DISTRIBUTION OF SERVICE TAX BY INPUT SERVICE  DISTRIBUTORS
[s.162]

14

MISCELLANEOUS

TAX PAID ON GOODS/ CAPITAL GOODS LYING WITH AGENTS TO BE ALLOWED AS CREDIT [s.162A – 162B]

Goods belonging to Principal lying with the agent on the appointed day

Conditions:

⇒ Agent is registered under GST

⇒ Principal & Agent both declare the details of stock of Goods lying with the agent immediately preceding the appointed day

⇒ Invoices were issued not earlier than 12 months prior to the appointed day

⇒ Principal has either not availed of the ITC or reversed it in respect of such capital goods

Agent entitled to take credit of tax paid on such goods

MISCELLANEOUS

TREATMENT OF BRANCH TRANSFERS [s. 162 C]

15

GOODS SENT ON APPROVAL BASIS REJECTED/RETURNED [s.162D]

16

DEDUCTION OF TAX AT SOURCE [s. 162E]

17 17

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