Amendment status not verified — confirm the current text below against the official source.
Transitional arrangements for input tax credit. ––(1) A registered person, other than a person opting to pay tax under section 10, shall be entitled to take, in his electronic credit ledger, credit of the amount of Value Added Tax, if any, carried forward in the return relating to the period ending with the day immediately preceding the appointed day, furnished by him under the existing law 1[within such time and] in such manner as may be prescribed : Provided that the registered person shall not be allowed to take credit in the following circumstances, namely: –– (i) where the said amount of credit is not admissible as input tax credit under this Act ; or (ii) where he has not furnished all the returns required under the existing law 1[within such time and] for the period of six months immediately preceding the appointed date :