CBEC : Disputed / Blocked transitional credit liable to recovery; Requires 'undertaking' above Rs. 10 lakh

CBEC issues directions with respect to non-transition of CENVAT credit u/s 140 of CGST Act or non-utilization thereof in certain cases; Accordingly, states that disputed CENVAT credit, i.e. credit which had been held inadmissible in last order-in-original / appellate order as it existed on July 1, 2017, taken in electronic ledger in terms of u/s 140(1), (2), (3), (4), (5), (6) or (8) shall not be utilized to discharge GST liability till such order is in existence; During the ...