Verification of transitional CGST credit in TRAN 1: authorised section 140 credits only, reconcile to CENVAT returns, data first checks. Only credits expressly authorised by section 140 of the CGST Act may be transitioned in TRAN 1 and the same pre GST credit cannot be availed twice. The guidance identifies the TRAN 1 entries that populate the electronic credit ledger, prescribes reconciliation of Table 5(a) with closing CENVAT balances net of excluded cesses, excludes ineligible taxes, requires documentary proof for capital goods and inputs held in stock, flags verification of anomalous credit growth, and mandates a data first verification approach with summons and enforcement reserved for non cooperation or substantial incongruent claims.
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Provisions expressly mentioned in the judgment/order text.
Verification of transitional CGST credit in TRAN 1: authorised section 140 credits only, reconcile to CENVAT returns, data first checks.
Only credits expressly authorised by section 140 of the CGST Act may be transitioned in TRAN 1 and the same pre GST credit cannot be availed twice. The guidance identifies the TRAN 1 entries that populate the electronic credit ledger, prescribes reconciliation of Table 5(a) with closing CENVAT balances net of excluded cesses, excludes ineligible taxes, requires documentary proof for capital goods and inputs held in stock, flags verification of anomalous credit growth, and mandates a data first verification approach with summons and enforcement reserved for non cooperation or substantial incongruent claims.
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