Education Cess & SHEC balance

[mk Jain]

Transfer of EC & SHEC balance in GST is possible or not. If not the what we will do of balances.

Rgds,

MJ

AI Summary

Debate on Transferability of Education Cess Balances to GST Credit Account Under Section 140 Sparks Expert Opinions A discussion on the transferability of Education Cess (EC) and Secondary and Higher Education Cess (SHEC) balances to the Goods and Services Tax (GST) credit account. One participant argues that these balances can be transferred based on the 2015 budget amendments and transitional provisions under the CGST Act, which allow carrying forward of certain credits. They cite government policies and Supreme Court rulings supporting their view. Another participant counters that only eligible duties, excluding EC and SHEC, can be carried forward under Section 140, suggesting these credits are not transferable. The discussion seeks further expert opinions.