02 November 2017
This is regarding the Cenvat Credit on goods worth Rs 5 lacs pertaining to the period 01-07-2016 to 30-06-2017 were left to be availed and was also missed out in the ER-1 return for June 2017. All the invoices of supplier are with us. The same were posted in books of accounts on 30.06.2017 or prior to appointed day and not after 01.07.2017.. Similarly in the case of Service Tax, Credit worth Rs 5 Lacs is left out i.e. we have not claimed the same in either ST-3 Return or ER-1 return for June 2017 for the services received during the period 01.07.2016 to 30.06.2017. The query is - Can we now claim the same in TRAN-1 Return being filed under GST ? or ER1 required to revise ?
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02 November 2017
Credit of excise under table 5(a) of Tran 1 form can be taken only when the same flows in through a return. SInce specific column for claiming credit which states "balance cenvat credit forward in the said last return".
Credit of excise cannot be taken under table 7(a) since applicability of section 140(3) is only on those dealers who were not earlier liable to be registered (among many other criteria). Since, you are already registered under excise, you cannot claim u/s 140(3) via table 7(a) of Tran -1.
02 November 2017
Sir, benefit of Section 140(5) can be availed only for goods in transit as on appointed date. Hence, a pre-condition is that the inputs/input services received on or after appointed day i.e. after 1 July 2017. In the case under discussion, the goods and services are received prior to the appointed date. Regards
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