CARRY FORWARD OF BALANCE CREDIT CENVAT + PLA IN

[Nagaraj Bansode]

Dear Sir,

I Have failed to file the Trans 1 which is meant to carry forward the balance Cenvat credit in GST regime. as on the portal till 1 st half it was flashing that the date has been extened upto 31st Dec-17, hence on 28th morning i tried to open the trans 1 form it was locked. Now please give me the Guide line how to Claim or Transfer the Cenvat Balance in GST regime And PLA Balance

[RAJA SWAMINATHAN]

Application can be made to the Commisioner for extension of time under rule no 118 of Central goods and Service Tax rules.

[KASTURI SETHI]

Last date was 27.12.2017. Now there is judgement of Allahabad High Court on this . You may get another opportunity to file TRANS-1.

[Himansu Sekhar]

You can claim the place balance as refund

[Himansu Sekhar]

Till now, there is no scope for transfer of credit.

[Ganeshan Kalyani]

If the closing credit balance of the return is not been carried forwarded through TRAN 1. Then the same can be applied for refund. And , for carry forward of the credit on the closing stock lying as on 30.06.2017 for trader TRAN 2 need to be filed. TRAN 2 can be filed.

AI Summary

Missed Trans 1 Deadline? Apply for Extension Under Rule 118, Consider Refunds, and File TRAN 2 for Stock. An individual inquired about the procedure to carry forward Cenvat credit and PLA balance under the GST regime after failing to file the Trans 1 form by the deadline. Responses suggested applying to the Commissioner for an extension under rule 118 of the Central GST rules, referencing a judgment by the Allahabad High Court that might allow another opportunity to file TRANS-1. It was also advised that the balance could be claimed as a refund since there is currently no provision for credit transfer, and filing TRAN 2 is necessary for traders with closing stock as of June 30, 2017.