It's high time govt worked with trade to revive economy

Topics Goods and Services Tax | GSTN | GST

In a significant judgment, the Delhi High Court has held that the Cenvat credit, which accrued to the assessee under the pre-goods and services tax regime, can be carried over as input tax credit under the current GST regime till the end of June. When GST was introduced on July 1, 2017, Section 140(1) of the Central GST Act, 2017 permitted carryover of the existing Cenvat credit balance as a transition measure. The Rule 117(1) of the Central GST Rules, 2017 required filing TRAN-1 return within 90 days. This time limit was extended several times, due to problems at the GST Network (GSTN),.....

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