https://www.taxtmi.com/forum/issue?id=117719 Transitional transfer of pre-GST Cenvat credit via TRAN-1 is subject to departmental verification and must reconcile with the taxpayer's books; officers may request invoices, stock statements and reconciliations. If verification discloses wrongly claimed or ineligible credit, the department may issue show-cause notices and recover the amounts with interest and penalties under the GST transitional and recovery provisions. Claimants should maintain and produce stock and invoice evidence and explain TRAN-1 balances, while noting competing views on whether entitlement is limited to duty corresponding to physical closing stock. en-us Mon, 20 Dec 2021 12:11:25 +0530 Thu, 23 Jan 2025 15:54:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117719 Transitional transfer of pre-GST Cenvat credit via TRAN-1 is subject to departmental verification and must reconcile with the taxpayer's books; officers may request invoices, stock statements and reconciliations. If verification discloses wrongly claimed or ineligible credit, the department may issue show-cause notices and recover the amounts with interest and penalties under the GST transitional and recovery provisions. Claimants should maintain and produce stock and invoice evidence and explain TRAN-1 balances, while noting competing views on whether entitlement is limited to duty corresponding to physical closing stock. Discussion-Forum GST Mon, 20 Dec 2021 12:11:25 +0530 https://www.taxtmi.com/forum/issue?id=117719