TRANS-1 IF CAPITAL GOODS 100% CLAIMED

[ABHILASH PANICKER]

Dear Sir/Madam,

GST Notice # towards availing of 100% credit on capital goods in Trans-1 is irregular., whereas the provision and explanations allows only "Unclaimed Balance Amount ".

My Query is that I Forget to take cenvat credit on Capital goods (Import ) (B/E related to May & June 2017 )., and also Not shown in ER-1,

Wether I Claimed I00% in Trans-1.

Regards

AI Summary

Unavailed CENVAT credit may be claimed in transitional form if admissible under prior law and current input tax credit rules.
Entitlement exists to claim the unavailed CENVAT credit for capital goods in the transitional form into the electronic credit ledger, only if that credit was admissible under the former CENVAT regime and is also admissible as input tax credit under the current law; "unavailed CENVAT credit" is the balance after deducting CENVAT credit already availed from the aggregate CENVAT credit to which the person was entitled for those capital goods.