Trans-1 reurn

[MohanLal tiwari]

Please advise whether we should include following balance of Excise regime in GST TRANS -1 "5a, 5b, 5c - amount of tax credit carried forward"

1. Balance of PLA

2. Balance of Cess

3. Balance of Higher Education Cess.

In addition to above, we are not finding any column in GSTR-1 to furnish the details of transitional Excise Invoices against which cenvat credit could not availed as materials received in July'17.

AI Summary

Transitional input tax credit: PLA refundable, cesses non-transferable; disclose transitional invoices invoice-wise in TRAN-1.
TRAN-1 permits transfer of eligible input tax credit only; PLA balances must be claimed via refund and statutory cesses are not allowable as credit. GSTR-1 reports outward supplies while GSTR-2 records inward supplies and credits. Transitional excise invoices for materials received after the tax changeover but dispatched earlier should be listed invoice-wise in the specified point of TRAN-1 to capture eligible transitional credits.