Tran credit

This query is : Resolved

SHYAM KRISHNAN K (Querist)
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05 July 2023 is there any restrictions for claiming Tran credit for a person having registration under service tax.
We have received a query from department regarding availment of Tran credit, we have availed Tran credit(both Tran-1 & 2), on existing stock, but the now the department has argued that we have registered under service tax and so that we have not eligible for claiming Tran credit under Rule 117(4) a i of CGST.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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23 August 2023 As per the transitional provisions of CGST/ SGST/ UTGST Act, registered person can take credit of taxes or duties paid under existing State or Central laws, like Value Added Tax Act, Central Excise Act and Service Tax laws and carry them forward to the GST regime, if the same are eligible as CGST/SGST/UTGST credit, subject to conditions/ limitations as prescribed in the GST Act and rules. These transitional credits can be claimed through Form GST TRAN – 1 and TRAN – 2.

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