21 December 2017
We are traders, earlier VAT registered and now having regular GST registration. We were not excise registered. We had CVD paid imported goods in stock, less than 12 months old as on 30th June 2017,.with bills of entry as proof of having paid CVD. We filed TRAN 1- table 7A and claimed 100% of CVD for the value of stock held. Please advise if this is OK and also advise if we have to file TRAN 2.
21 December 2017
Treatment done by you for taking credit of CVD is correct. You do not have to file TRAN 2, as it is applicable to those taxpayers who are taking credit of duty but duty paid invoices are not available with them.
CAclubindia
