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Input on capital goods in trans 1

ITC / Input 258 views 3 replies
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27 Points Posted on 18 January 2020
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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On 18 January 2020 at 18:52 Report
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GST Practitioner
55067 Points Posted on 19 January 2020
No it's ok .......no need to reverse
301 Reply
On 19 January 2020 at 15:58
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27 Points Posted on 20 January 2020
Thanks
firm was not registered under excise
earlier.in this case it also ok or not.
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On 20 January 2020 at 10:04
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180 Points Posted on 27 January 2021
@ 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.
1 Reply
On 27 January 2021 at 19:54


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