DEAR SIR,
MY QUERY IS SIMPLE AS WE ARE IMPORTER AND WE HAVE RECEIVED OUR IMPORTED GOODS ON JUNE 29TH PRE-GST BY PAYING CUSTOMS DUTY, EXCISE & ADDITIONAL DUTY (I.E SAD).
THERE WAS NO SALE FOR MONTH OF JUNE'17 (IN VAT). THE SALE BEGAN IN JULY 17 (GST PERIOD) AND 70% OF THE GOODS WERE SOLD IN JULY 17 AND BALANCE 30% (AUG 2017) SO NOW WE WANT TO FILL THE TRANSITION FORM IN GST BUT WE ARE CONFUSED WHICH ONE SHOULD WE FILE? AS TRANS-1 FORM HAVE MANY SUB FORMS AS BELOW
5(a), 5(b), 5(c) - Amount of tax credit carried forward
6(a), 6(b) - Details of capitals goods for which unavailed credit has not been carried forward
7(a), 7(b), 7(c), 7(d) - Details of the inputs held in stock
8 - Details of transfer of CENVAT credit for registered person having centralized registration
9(a), 9(b) - Details of goods sent to job-worker and held in his stock on behalf of principal under section 141
10(a), 10(b) - Details of goods held in stock as agent on behalf of the principal under section 142
11 - Details of credit availed in terms of Section 142(11(c))
12 - Details of goods sent on approval basis six months prior to the appointed day (section 142(12))
WE WANT TO TAKE ITC OF BOTH EXCISE & SAD WHICH WE PAID AT THE TIME OF IMPORT. SO PL. ADVISE WHICH FORM SHOULD WE FILL AS IT SHOWED NUMEROUS FORMS FROM 5 TO 12. ONE OF MY FRIEND SAID 7(A) BUT THERE IS NO OPTION FOR CVD (EXCISE) & SAD DIFFERENTLY. IT IS JUST HAVING A COLUMN WITH NAME "Eligible Duties paid on such inputs " DOES THIS MEAN ADDING BOTH (EXCISE & SAD)?
ONE OF MY FRIEND SAID AFTER FILLING TRANSITION FORM 1 WE SHOULD ALSO FILL TRANS-2 FORM? IS IT SO?
SIR, PL. GIVE ME YOUR DIRECT NUMBER & EMAIL ADDRESS. SO WE CAN EMAIL YOU FOR HELP & DOUBT'S IF WE HAVE ANY.
RGDS,
CHETAN RANKA
+91-98842-54160.
CAclubindia
