What mode of transaction it will be

[Asked by Guest]

There is a case

Eg. if A sends material from (delhi) to B it is in (west bengal), he does billing in excise and vat on 25 june 2017.and B receives goods on 4 july 2017. so is this Transaction possible in GST provision and the good is a capital investment for B.

[KIRTIKUMAR PUROHIT]

Yes; it is possible in GST, B may to mentioned such transaction in TRANS-1 and take 100% CENVAT in GST Regime; in spite of, it's Capital Investment t for "B".

AI Summary

Input tax credit transition under GST allows carrying forward CENVAT via TRANS-1 for capital goods received after regime change.
When goods are dispatched before GST but received after, the recipient may migrate input tax credit into the GST regime for capital goods by declaring the transaction in the transition return and using the prescribed transition form TRANS-1 to claim CENVAT credit.