Tran credit
This query is : Resolved
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.
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Section 50-fixed asset-->building ceases to exist
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
