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

Carry forward of Cenvat credit may require extension applications or refund claims when TRAN 1 is not filed.
Failure to file TRAN 1 to carry forward closing CENVAT credit into GST permits applying to the commissioner for extension under Rule 118, reliance on recent judicial opportunities to file late, or claiming untransferred credit and PLA balances as refunds. For traders with closing stock, filing TRAN 2 enables carry forward of credit. There is no broad administrative transfer mechanism beyond the transitional forms.