Page 81 - GSTL_6th August 2020_Vol 39_Part 1

2020 ] P.R. MANI ELECTRONICS v. UNION OF INDIA 7
(i) the amount of tax or duty availed or utilized by way of
input tax credit under each of the existing laws till the
appointed day; and
(ii) the amount of tax or duty yet to be availed or utilized by
way of input tax credit under each of the existing laws till
the appointed day;
(b) in the case of a claim under sub-section (3) or clause (b) of sub-
section (4) or sub-section (6) or sub-section (8) of section 140,
specify separately the details of stock held on the appointed
day;
(c) in the case of a claim under sub-section (5) of section 140, fur-
nish the following details, namely :-
(i) the name of the supplier, serial number and date of issue
of the invoice by the supplier or any document on the
basis of which credit of input tax was admissible under
the existing law;
(ii) the description and value of the goods or services;
(iii) the quantity in case of goods and the unit or unit quanti-
ty code thereof;
(iv) the amount of eligible taxes and duties or, as the case
may be, the value added tax [or entry tax] charged by the
supplier in respect of the goods or services; and
(v) the date on which the receipt of goods or services is en-
tered in the books of account of the recipient.
(3) The amount of credit specified in the application in FORM GST
TRAN-1 shall be credited to the electronic credit ledger of the applicant
maintained in FORM GST PMT-2 on the common portal.
(4)(a)(i) A registered person who was not registered under the existing
law shall, in accordance with the proviso to sub-section (3) of section 140,
be allowed to avail of input tax credit on goods (on which the duty of cen-
tral excise or, as the case may be, additional duties of customs under sub-
section (1) of section 3 of the Customs Tariff Act, 1975, is leviable) held in
stock on the appointed day in respect of which he is not in possession of
any document evidencing payment of central excise duty.
(ii) The input tax credit referred to in sub-clause (i) shall be allowed at the
rate of sixty per cent. on such goods which attract central tax at the rate of
nine per cent. or more and forty per cent. for other goods of the central tax
applicable on supply of such goods after the appointed date and shall be
credited after the central tax payable on such supply has been
paid :
Provided that where integrated tax is paid on such goods, the amount of
credit shall be allowed at the rate of thirty per cent. and twenty per cent. re-
spectively of the said tax;
(iii) The scheme shall be available for six tax periods from the appointed
date.
(b) The credit of central tax shall be availed subject to satisfying the fol-
lowing conditions, namely :-
(i) such goods were not unconditionally exempt from the whole
of the duty of excise specified in the First Schedule to the Cen-
GST LAW TIMES  6th August 2020  81