have not file yet

[Asked by 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

PLA ledger credit remains recoverable: taxpayers can claim refund of PLA balances even if transitional form was not filed.
Experts agree that the transitional form was intended to carry forward unused Cenvat Credit recorded in returns and not to transfer balances in the PLA; therefore PLA ledger balances remain available and taxpayers can file for a refund of those amounts, with such refunds not being time barred, and may consult administrative guidance for further procedural detail.