Carry Forward of CENVAT Credit

• Businesses were allowed to carry forward eligible CENVAT credit from the pre-GST regime.
  
• The credit had to be reflected in the last filed return under existing laws.
  
• Only admissible credits under GST law were permitted to be transitioned.
  
• A declaration had to be filed in Form TRAN-1 within the prescribed period.
  
• Credit was subject to verification and could be rejected if ineligible.
  

Transitional Stock Credit

• Credit on inputs held in stock as of the appointed day was allowed.
  
• Conditions included possession of invoices not older than twelve months.
  
• Traders not registered under earlier laws were also eligible under certain norms.
  
• Credit was claimed through Form TRAN-2 where invoice copies were not available.
  
• This provision supported smooth transfer of tax paid on pre-GST inventory.
  

Pending Refunds and Assessments

• Refund claims filed under earlier laws continued under the old regime.
  
• Service tax and excise assessments pending on the appointed day were finalized under earlier rules.
  
• Dues arising out of assessments or audits were payable under the old provisions.
  
• Recovery mechanisms of the old laws remained applicable for past liabilities.
  
• Appeals filed before or after GST enforcement were adjudicated under the previous statutes.
  

Job Work and Goods Sent on Approval

• Inputs or capital goods sent to job workers before GST could be returned without tax within a specified period.
  
• The time limit for return was six months, extendable by two months.
  
• Goods sent on approval basis prior to GST were allowed to be returned without tax.
  
• If not returned within the time limit, GST was payable by the recipient.
  
• Documentation and proper declaration were essential for availing this relief.
  

Miscellaneous Transitional Rights and Obligations

• Taxpayers were allowed to revise returns filed under earlier laws for error rectification.
  
• Credit of eligible duties in transit on the appointed day was allowed on receipt of goods.
  
• Centralized registration holders were permitted to distribute credit to units under GST.
  
• Ongoing contracts and supplies initiated before GST were governed by specific transitional rules.
  
• Transition provisions aimed to ensure continuity of business operations without tax loss.