Trans -1 return

[MohanLal tiwari]

While filing Trans-1, we didn't find place for submitting details of inward supply Invoices issued in June but received in after filing ER-1 return of Central Excise and Cenvat credit could not be availed. The credit of Excise duty was supposed to be taken through transitional provision.

[Himansu Sekhar]

Since you are an existing assessee your cb to be transferred through tran 1. When you have filed,both of them and there is no chance of revising them,chances of taking credit is dim. Tran1 cannot be revised, as appears.

[MohanLal tiwari]

Dear Mr Shekhar

My question was under which of the folowing column of Trans-1, we should file the details of inward supply Invoices of goods & services.

1. 5(a), 5(b), 5(c) - Amount of tax credit carried forward

2.6(a), 6(b) - Details of capitals goods for which unavailed credit has not been carried forward .

3. 7(a), 7(b), 7(c), 7(d) - Details of the inputs held in stock.

4. 8 - Details of transfer of CENVAT credit for registered person having centralized registration.

5. 9(a), 9(b) - Details of goods sent to job-worker and held in his stock on behalf of principal under section 141.

6. 10(a), 10(b) - Details of goods held in stock as agent on behalf of the principal under section 142.

7. 11 - Details of credit availed in terms of Section 142(11(c)).

8. 12 - Details of goods sent on approval basis six months prior to the appointed day (section 142(12)).

AI Summary

GST transitional credit: inability to revise TRAN-1 may prevent transferring unavailed CENVAT credit after migration.
Taxpayer queries which TRAN-1 column should record inward supply invoices issued before migration but received after filing ER-1, listing columns for carried-forward tax credit; capital goods with unavailed credit; inputs held in stock; transfer of CENVAT for centralized registration; goods at job-worker; goods held as agent; credit under the transitional provision; and goods on approval. Respondent states that the CENVAT balance is to be transferred via TRAN-1 and that TRAN-1 cannot be revised, reducing the chances to take the credit after filing.