Amendment status not verified — confirm the current text below against the official source.
(1) A registeredperson, other than a person optingto pay tax under section 10, shall be entitled to take, in his electronic credit ledgercredit of the amount of Value Added Tax, and EntryTax, if any, carried forward in the return relatingto the periodendingwith the day immediatelyprecedingthe appointedday,furnished by him under the existinglaw, not later than ninetydays after the said day,in such manner as may he 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 inputtax credit under this Act; or (ii) where he has not furnished all the returns required under the existinglaw for the periodof six months immediatelyprecedingthe appointeddate or (iii) where the said amount of credit relates to goods sold under notification No. 5/6/2002-FD(TAX) Pt-1 and dtd. 08/06/2016 claimingrefund of value added tax paidthereon (whereverapplicable): Transitional arrangements for input tax credit. 74ofl956 137 Provided further that so much of the said credit as is attributable to any claim related to section 3, sub-section (3) ofsection 5, section 6, section 6A or sub-section (8) .of.section 8of the Central Sales Tax Act, 1956 that is not substantiated in the manner, and within the period, prescribed in. rule 12 of the C:;:?!Jtral Sales Tax {Registration and Turnover) Rules, 1957 shall not be e1igible to be credited to the electronic credit ledger: Provided also that an amount equivalent to the credit specified in the second proviso shall be refunded under the existing law when the said claims are substantiated in the manner prescribed in rule 12 of the Central Sales Tax (Registration and Turnover) Rules,