CBEC explains ‘transition’ provisions under GST law, which have been categorized under 3 heads –
(i) relating to Input Tax Credit,
(ii) relating to job work, goods returned / sent on approval,
(iii) All claims (pending as well as future) pertaining to existing laws filed before, on or after appointed day; Scheme of notional / deemed Input Tax Credit available only to traders, not manufacturers or service providers.
In case of input / input services in transit, registered person may take credit of eligible duties and taxes provided invoice has been recorded in the books within 30 days from appointed date; Registered person having centralized registration under service tax can take credit of CENVAT carried forward in return furnished under existing law if the original / revised return has been filed within 3 months.
Click here to download key Transition Provisions issued by CBEC Transition Provisions under GST_CBEC