I have taken credit of cenvat IN Trans-1 on machine purchased before GST.
Please confirm this is o.k. as per gst act or i have to reverse and deposit the same.
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Input on capital goods in trans 1
Replies (3)
No it's ok .......no need to reverse
Thanks
firm was not registered under excise
earlier.in this case it also ok or not.
firm was not registered under excise
earlier.in this case it also ok or not.
@ pankaj rawat sir,
but as per section 140(2) of CGST Act, 2017, only unavailed and unclaimed Cenvat credit can be transferred in Trans 1 in r/o Capital goods.
if not, pls clarify sir.
but as per section 140(2) of CGST Act, 2017, only unavailed and unclaimed Cenvat credit can be transferred in Trans 1 in r/o Capital goods.
if not, pls clarify sir.
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