https://www.taxtmi.com/caselaws?id=426907 The Bombay HC ruled that an ISD's recipient units can file revised declarations in Form GST TRAN-1 to regularize CENVAT credit transitions distributed by the ISD unit through invoices. The court held that once revised declarations are filed, credits previously taken by recipient units shall be deemed validly taken from the original date. However, no additional credit can be claimed based on revised declarations, as filing serves only to regularize earlier credit transitions. Upon regularization, remaining credit balance in the ISD's Electronic Credit Ledger shall lapse. Authorities were directed not to proceed with show cause notices regarding credit transitions and distributions. en-us Tue, 23 Aug 2022 00:00:00 +0530 Fri, 04 Apr 2025 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426907 The Bombay HC ruled that an ISD's recipient units can file revised declarations in Form GST TRAN-1 to regularize CENVAT credit transitions distributed by the ISD unit through invoices. The court held that once revised declarations are filed, credits previously taken by recipient units shall be deemed validly taken from the original date. However, no additional credit can be claimed based on revised declarations, as filing serves only to regularize earlier credit transitions. Upon regularization, remaining credit balance in the ISD's Electronic Credit Ledger shall lapse. Authorities were directed not to proceed with show cause notices regarding credit transitions and distributions. Case-Laws GST Tue, 23 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426907