Eye Share: Retrospective Amendment to Transitional Credit Provision – A Clear Picture

Budget 2020 had proposed a retrospective amendment to Section 140 of CGST Act, 2017 empowering the Central Government to prescribe the time and manner of availing transitional credit. Section 140 permits the registered person to carry forward the unutilized credit subject to satisfaction of certain conditions.Ms. Ankita Shah, (Associate Director, Mazars India LLP) wirh Mr. M.G. Muthukumaran (Manager)and Ms. Neha Gada (Senior Consultant) in their insightful...