Anomalies in GST Law

I have gone through the article and its content by which the author intends to point out the discrepancies and anomalies in the input tax credit scheme under GST. The author appears to have not gone through the transitional provisions in depth and just trying to comment on the provisions. The input tax credit in the GST law has been well defined and input tax credit on whatever capital goods being used by the tax payer for providing supply of goods or service will be eligible. Cenvat credit on capital goods which are lying with the taxpayer whether he is registered or unregistered person will be available subject to the condition that he is having the invoice of such capital goods and the depreciation on such capital goods has not been taken by him under Income Tax. The credit will be available in proportionately on remaining life of such capital goods treating the life of such capital goods is 5 years. The law has been framed by most learned person in the department and such types of author without deeply appreciating the provisions, trying to point out the discrepancies showing themselves more intelligent than those persons who drafted the complete GST provisions. These persons are those who could not even understand the existing law and only for the sake of pointing out shortcomings, are pointing out the discrepancies. I request such author not to misguide the trade and industry and even to departmental officers as the present model of GST law is a very integrated law and hope will change the complete taxation structure of the country.

cestat cestat 30/05/2017