Migration of Existing Assessees
Utilization of Balance Cenvat Credit (Excise & Service Tax) and Input Tax Credit (Vat)
As per Model Act in order to claim the existing credit appearing in the returns as opening credit under GST conditions of the both Acts, (i.e. CENVAT Credit Rules and Model Act) must be fulfilled.
This provision needs reconsideration and existing credits as per returns must be allowed as credit under the Model Act if all the conditions of the CENVAT Credit Rules or State VAT Act are fulfilled.