(i) where the said amount of credit is not admissible as input tax credit under this Act; or
(ii) where he has not furnished all the returns required under the existing law for the period of six months immediately preceding the appointed date; or
(iii) where the said amount of credit relates to goods manufactured and cleared under such exemption notifications as are notified by the Government.
(i) such inputs or goods are used or intended to be used for making taxable supplies under this Act;
(ii) the said registered person is eligible for input tax credit on such inputs under this Act;
(iii) the said registered person is in possession of invoice or other prescribed documents evidencing payment of duty under the existing law in respect of such inputs;
(iv) such invoices or other prescribed documents were issued not earlier than twelve months immediately preceding the appointed day; and
(v) the supplier of services is not eligible for any abatement under this Act:
(a) the amount of CENVAT credit carried forward in a return furnished under the existing law by him in accordance with the provisions of sub-section (1); and
(b) the amount of CENVAT credit of eligible duties in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day, relating to such exempted goods or services, in accordance with the provisions of sub-section (3).
(i) such inputs or goods are used or intended to be used for making taxable supplies under this Act;
(ii) the said registered person is not paying tax under section 10;
(iii) the said registered person is eligible for input tax credit on such inputs under this Act;
(iv) the said registered person is in possession of invoice or other prescribed documents evidencing payment of duty under the existing law in respect of inputs; and
(v) such invoices or other prescribed documents were issued not earlier than twelve months immediately preceding the appointed day.
(i) the additional duty of excise leviable under section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957;
(ii) the additional duty leviable under sub-section (1) of section 3 of the Customs Tariff Act, 1975;
(iii) the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, 1975;
[(iv) ***]
(v) the duty of excise specified in the First Schedule to the Central Excise Tariff Act, 1985;
(vi) the duty of excise specified in the Second Schedule to the Central Excise Tariff Act, 1985; and
(vii) the National Calamity Contingent Duty leviable under section 136 of the Finance Act, 2001, in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day.
(i) the additional duty of excise leviable under section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957;
(ii) the additional duty leviable under sub-section (1) of section 3 of the Customs Tariff Act, 1975;
(iii) the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, 1975;
[(iv) ***]
(v) the duty of excise specified in the First Schedule to the Central Excise Tariff Act, 1985;
(vi) the duty of excise specified in the Second Schedule to the Central Excise Tariff Act, 1985;
(vii) the National Calamity Contingent Duty leviable under section 136 of the Finance Act, 2001; and
(viii) the service tax leviable under section 66B of the Finance Act, 1994, in respect of inputs and input services received on or after the appointed day.
Section 140 • The Central Goods and Services Tax Act, 2017
140. Transitional arrangements for input tax credit.
central-goods-and-services-tax-act-2017-sec-140.json
•
Section 140
{
"act_title": "The Central Goods and Services Tax Act, 2017",
"act_slug": "central-goods-and-services-tax-act-2017",
"section_label": "Section",
"section": {
"number": "140",
"title": "140. Transitional arrangements for input tax credit.",
"chapter": null,
"content": "(i) where the said amount of credit is not admissible as input tax credit under this Act; or\n(ii) where he has not furnished all the returns required under the existing law for the period of six months immediately preceding the appointed date; or\n(iii) where the said amount of credit relates to goods manufactured and cleared under such exemption notifications as are notified by the Government.\n(i) such inputs or goods are used or intended to be used for making taxable supplies under this Act;\n(ii) the said registered person is eligible for input tax credit on such inputs under this Act;\n(iii) the said registered person is in possession of invoice or other prescribed documents evidencing payment of duty under the existing law in respect of such inputs;\n(iv) such invoices or other prescribed documents were issued not earlier than twelve months immediately preceding the appointed day; and\n(v) the supplier of services is not eligible for any abatement under this Act:\n(a) the amount of CENVAT credit carried forward in a return furnished under the existing law by him in accordance with the provisions of sub-section (1); and\n(b) the amount of CENVAT credit of eligible duties in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day, relating to such exempted goods or services, in accordance with the provisions of sub-section (3).\n(i) such inputs or goods are used or intended to be used for making taxable supplies under this Act;\n(ii) the said registered person is not paying tax under section 10;\n(iii) the said registered person is eligible for input tax credit on such inputs under this Act;\n(iv) the said registered person is in possession of invoice or other prescribed documents evidencing payment of duty under the existing law in respect of inputs; and\n(v) such invoices or other prescribed documents were issued not earlier than twelve months immediately preceding the appointed day.\n(i) the additional duty of excise leviable under section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957;\n(ii) the additional duty leviable under sub-section (1) of section 3 of the Customs Tariff Act, 1975;\n(iii) the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, 1975;\n[(iv) ***]\n(v) the duty of excise specified in the First Schedule to the Central Excise Tariff Act, 1985;\n(vi) the duty of excise specified in the Second Schedule to the Central Excise Tariff Act, 1985; and\n(vii) the National Calamity Contingent Duty leviable under section 136 of the Finance Act, 2001, in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day.\n(i) the additional duty of excise leviable under section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957;\n(ii) the additional duty leviable under sub-section (1) of section 3 of the Customs Tariff Act, 1975;\n(iii) the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, 1975;\n[(iv) ***]\n(v) the duty of excise specified in the First Schedule to the Central Excise Tariff Act, 1985;\n(vi) the duty of excise specified in the Second Schedule to the Central Excise Tariff Act, 1985;\n(vii) the National Calamity Contingent Duty leviable under section 136 of the Finance Act, 2001; and\n(viii) the service tax leviable under section 66B of the Finance Act, 1994, in respect of inputs and input services received on or after the appointed day.",
"footnote": "",
"is_definition": false,
"sort_order": 140
},
"prev_section": "139",
"next_section": "141"
}