The Central Board of Indirect Taxes And Customs vide notification dated 16th May, 2020, has appointed the 18th day of May, 2020, as the date on which the provisions of section 128 of the said Act, shall come into force. The Section 128 seeks to amend the Section 140 of CGST Act 2017 which deals with Transitional credit for un-availed CENVAT. As per the amendment, The un-availed CENVAT can be credited to the electronic credit ledger only if the duties are paid “within such time and in such manner as may be prescribed”.
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