credit for Transitional provision

[RAMNIRANJAN KANDOI]

    Dear sir,

    1. Please confirm whether one can take credit of Service Tax paid under RCM for payment made after 01st July 2017.

    as I hv not seen anywhere nor in TRAN-01

    2. Also reg. Material duty(Local or Imported ) paid before 30.06.2017 & same is recd. on or after 01.07.2017 as TRAN 01 also does not contain details anywhere.

    Query. How to take credit.

[Ramesh Kothari]

1.yes credit can taken as services provided before appointment of GST irrespective of payment made after introduction of GST

2. Yes Same applicable as in above can take credit n c/c

but same subject to shown in return

AI Summary

Transitional input tax credit for pre-GST services and material duties allowed if properly shown in transitional return. Transitional credit may be claimed for Service Tax paid under the Reverse Charge Mechanism where the services were provided before GST commencement, irrespective of payment made after transition, provided the credit is shown in the transitional return. The same rule applies to duties on materials paid before the cutoff but received after transition: credit is allowable subject to being disclosed in the transitional return.