have not file yet

[Guest]

What happens to credit in PLA ledger if TRAN 1 is not filled at all. Is there any to get this credit refunded?

[KASTURI SETHI]

TRANS-1 was not meant for carrying forward unused balance lying in PLA as on 30.6.17. It was meant for carrying forward unused Cenvat Credit balance as per Central Excise returns/Service Tax return/VAT return as on 30.7.17. You can claim refund of balance lying in PLA at any time. It is not time barred. It is yours money.

[Himansu Sekhar]

Please go through answer to question 43 of the faqs released for mining sector. Source cbic.gov.in

[Himansu Sekhar]

Refund can be filed

[DR.MARIAPPAN GOVINDARAJAN]

I concur with the views of the experts.

[Ganeshan Kalyani]

I agree with the Sri Kasturi Sir. The tran1 was not meant to carry forward PLA balance. The tax payer can apply for the refund.

AI Summary

Taxpayers Can Claim Refund on PLA Balance Anytime; TRAN 1 Only for Carrying Forward Unused Cenvat Credit A discussion on a forum addressed the issue of what happens to credit in the PLA ledger if TRAN 1 is not filed. Multiple contributors clarified that TRAN 1 was intended for carrying forward unused Cenvat Credit, not PLA balance. It was emphasized that taxpayers can claim a refund for the balance in the PLA at any time, as it is not subject to a time limit. Participants generally agreed that the refund process is available and supported the explanation provided by one of the experts.