Cenvat carried forward

[Arun Aggarwal]

Sir

I am an exporter duely registered with excise as a manufacturer and taking cenvat on my purchases,

as I am exporting my products under bond without using the cenvat, resulting accumlated cenvat in my books.

now after GST can I carry the same as input credit and to be used as payment of GST

or I will get the refund under GST of the same

or should I take the refund under rule 5 from excise before implemtation of GST

Arun

AI Summary

Exporter Questions Cenvat Credit Handling Pre-GST: Refund or Carry Forward? Insights on Rule 5 and Section 140. An exporter, registered as a manufacturer, inquired about handling accumulated Cenvat credit due to exports under bond without utilizing the credit, in light of the upcoming GST implementation. The exporter asked whether the credit could be carried forward as input credit for GST payment or if a refund should be sought. One respondent advised seeking a refund under rule 5 from excise before GST implementation, supported by another who emphasized the likelihood of not being allowed to carry forward 100% of the credit. Another respondent mentioned that Section 140 of central tax permits carrying forward the credit, with refund under rule 5 as an option.