24.

(1) A registered person, other than a person opting to pay tax under section 10, shallbe entitled to take, in his electronic credit ledger credit of the amount ofValue Added Tax, and Entry Tax, if any, carried forward in the return relating to the period ending with the day immediately preceding the appointed day, furnished by himunder the existing law, not later than ninety days after thesaid day, in such manneras may he prescribed: Providedthatthe registered person shall not be allowed to take credit in the following circumstances, namely:- (i) where the said amount of credit is not admissible as input tax credit under this Act; or (ii) where he has not furnished allthe returns required under the existing law forthe period of six months immediately preceding the appointed date or (iii) where thesaid amount ofcredit relates to goods sold under notification No. 5/6/2002-FD(TAX) Pt-1 anddtd. 08/06/2016 claiming refund of value added tax paid thereon (whereverapplicable): Transitional arrangements for input tax credit. 74ofl956 137 Provided further that so much of thesaid credit as is attributable to any claim related to section 3, sub-section (3) ofsection 5, section 6, section 6A or sub-section (8) .of.section 8of the CentralSales Tax Act, 1956 that is not substantiated in the manner, and within the period, prescribed in. rule 12 of the C:;:?!Jtral Sales Tax {Registration and Turnover) Rules, 1957 shall not be e1igible to be credited to the electronic credit ledger: Provided also that an amount equivalent to the credit specified in the second proviso shall be refunded underthe existing law when the said claims are substantiated in the manner prescribed in rule 12 of theCentralSales Tax (Registration and Turnover) Rules,