TaxTMI 
TaxTMI 
TaxTMI 
Whether Surcharge paid as Additional Duty of Excise levied on tobacco be taken as Transitional Credit under GST? The said Additional Duty of Excise is as per levy under Finance Act 2005.
Transitional Credit
Krishna Murthy
Transitional Credit: surcharge as additional duty of excise on tobacco not carryable forward under GST. Surcharge paid as Additional Duty of Excise on tobacco, levied under the Finance Act 2005, does not qualify as Transitional Credit and cannot be carried forward in the TRANS-1 declaration under GST; this view was affirmed by respondents in the forum discussion. (AI Summary)
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