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of <h1>Guidance on CGST Transitional Credit: Verify u/s 140, Prevent Double Claims, Follow Form TRAN 1 Procedures.</h1> The circular provides guidance on verifying CGST transitional credit, emphasizing two key principles: CENVAT credit can only be transitioned if legally authorized under Section 140 of the CGST Act, and the same credit cannot be claimed twice. It outlines detailed procedures for verifying entries in Form TRAN 1, covering various tables that capture different types of transitional credits, including those for capital goods, stock inputs, and centrally registered units. The document also specifies checks to prevent double credit claims, mandates taxpayer compliance for credit growth verification, and clarifies jurisdictional authority for credit verification. It concludes with instructions for trade associations to disseminate this information.
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