Chapter - V of CGST Rules, 2017
INPUT TAX CREDIT
1[RULE 44A.
Manner of reversal of credit of Additional duty of Customs in respect of
Gold dore
bar (corresponding section 18)
The credit of
central tax
in the electronic credit ledger taken in terms of the
provisions of
section
140 relating to the CENVAT Credit carried
forward which had accrued on account of payment of
the additional duty of customs levied under
sub - section
(1) of section 3 of the Customs Tariff Act, 1975 (51
of 1975), paid at the time of importation of gold dore bar, on the stock of gold
dore bar held on the
1st day
of July, 2017 or contained in gold or gold jewellery
held in stock
on the 1st day of July,
2017 made out of such imported gold dore bar, shall
be restricted to one- sixth of such
credit and five - sixth of such credit
shall be debited from the electronic credit ledger at the time of supply of such
gold dore bar or the gold or the gold jewellery made therefrom and where such
supply has already been made ,such
debit shall be within one week from the date of commencement
of these Rules.]
1 Inserted vide 22/2017-Central
Tax,dt. 17-08-2017 -[Para 2(iv)]