TRANSFER OF ACD AND CVD TO GST

[sachin shilamkar]

What are the provisions under GST for transfer of ACD and CVD paid by the importer/dealer on the closing stock which will transfer to GST on 1st July when GST will get implemented.

What records need to be maintained and how to apply for the same.

Regards

Sachin

AI Summary

Transfer of CVD and SAD to GST permitted; eligible duties on closing stock transferable upon GST implementation.
Explanations to the transitional provision define eligible duties to include Countervailing Duty and Special Additional Duty, permitting those duties paid on closing stock to be carried forward into the GST regime on implementation; claimants must maintain records evidencing duty payment. Ancillary operational questions concern treatment of customs education cesses credited to Cenvat and the processing or status of pending SAD refund files at the time of GST commencement.