TaxTMI 
TaxTMI 
What is Credit Transfer Document, as an amendment in Cenvat Credit Rules is proposed by GST Council at its meeting held on 3.6.2017.
Credit Transfer Document
08 Jun 2017 
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Credit Transfer Document enables transfer of pre-GST cenvat credit to electronic ledger, preserving input tax credit on unsold stock.
Credit Transfer Document (CTD) operates as a transitional mechanism allowing the cenvat credit balance shown in the return filed under the existing law prior to the appointed date to be transferred into the GST electronic credit ledger under prescribed transitional rules; manufacturers must issue CTDs within a short statutory window for high value unsold excise paid inventory so recipients can claim corresponding CGST input tax credit subject to specified conditions. (AI Summary)
Credit Transfer Document (CTD) operates as a transitional mechanism allowing the cenvat credit balance shown in the return filed under the existing law prior to the appointed date to be transferred into the GST electronic credit ledger under prescribed transitional rules; manufacturers must issue CTDs within a short statutory window for high value unsold excise paid inventory so recipients can claim corresponding CGST input tax credit subject to specified conditions. (AI Summary)