TaxTMI 
TaxTMI 
Hi , My company could not transfer the CVD credit benefit to the existing dealers in 2017. Now for the same dealers we also have debit balance . Is it possible to adjust the same by means of book accounting entry
Rahul Bagaria
CVD and Trasn 1 credit
01 May 2020 
2 Replies 
1900 Views Asked by
Transitional credit: deadline extensions permit claiming CVD credit only if entered into electronic credit ledger with required documents.
Transitional CVD credit requires entry into the electronic credit ledger and prescribed documentary support for unsold dealer stock; mere book adjustments are insufficient. Claiming such credit depended on filing Form GST-TRAN-1 within the extended filing window or other relief that preserved entitlement, and recent authority indicates such claims may be governed by the general limitation period rather than a shorter GST-specific timeframe. (AI Summary)
Transitional CVD credit requires entry into the electronic credit ledger and prescribed documentary support for unsold dealer stock; mere book adjustments are insufficient. Claiming such credit depended on filing Form GST-TRAN-1 within the extended filing window or other relief that preserved entitlement, and recent authority indicates such claims may be governed by the general limitation period rather than a shorter GST-specific timeframe. (AI Summary)