GST Policy Wing has issued a circular for all revenue officers justifying government stand on last date to file transitional return. Circular has given out detailed submissions justifying validity of Section 140 of the CGST Act and Rule 117 of the CGST Rules. Few Grounds are as follows-
(I) CENVAT credit are not absolute/vested rights over and above statue and are subject to statutory provisions and rule under which they exists.
(ii) Rule 117/120A of CGST Rules 2017 are within the rule making power of the Central Government under the CGST Act 2017.
(iii) Time limit prescribed under Rule 117/120A of CGST Rule 2017 is rational & mandatory.
(iv) Sub-rule (1A) of Rule 117 of CGST Rules 2017 cannot be termed as arbitrary or
vague and is well within the four corners of the statute.
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