TaxTMI 
TaxTMI 
TaxTMI 
Goods manufactured under excise regime now written off
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....oods manufactured under excise regime now written off<br> Query (Issue) Started By: - Kaustubh Karandikar Dated:- 22-2-2019 Last Reply Date:- 24-2-2019 Goods and Services Tax - GST<br>Got 3 Replies<br....
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....>GST<br>XYZ(Manufacturer) had transferred the unutilized CENVAT credit laying in balance as on July'17 to Electronic credit ledger under GST through TRAN - 1. They are holding certain manufactured sto....
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....cks of excise regime which they now want to write off. Are they required to proportionately reverse the input tax credit since they had transferred the unutilized CENVAT credit through TRAN - 1 from E....
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....xcise regime To GST regime? Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Yes, they have to definitely reverse the same and the consequences also in GST transfer. Reply By Ganeshan Kalyani: The Re....
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....ply: Dear Sir, one of the condition in transitional provision was that the duty paid stock should be sold as taxable under GST. Since, some stock is not sold yet, then input tax credit to that extend....
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.... is not admissible. Reply By KASTURI SETHI: The Reply: I support the views of both experts.<br> Discussion Forum - Knowledge Sharing ....