On 23.02.2018, CBEC has issued a Circular CIR-33/07/2018-GST in relation to Disputed and Blocked Transitional Credits (CENVAT Credits) carried forward under GST during Transition to GST. To prevent misuse of transitional credits and non-adherence to GST provisions, CBEC has…
In Table 5(b) of TRAN 1, GST department seeks details of statutory forms received for which credit is being carried forward As per erstwhile Central Sales Tax Act, 1956 (in short “CST”), concessional rate of tax was charged on…
During transition phase, every dealer registered under existing laws like VAT / Excise / Service Tax / Luxury Tax etc., is obliged to file the return forms to claim benefits provided under transitional provisions under GST. There forms…
In GST laws, transitional provisions have been provided to mitigate the differences in earlier laws and in GST. In this article, we will discuss various situations and its corresponding law in GST Act in respect of Central Taxes.…
Under service tax provisions, it is provided that where payment to supplier of service is not made within three months of provision of service, Credit of such service tax required to be reversed and it could be reclaimed…
Where a registered person having centralised registration under the existing law has obtained a registration under this Act, such person shall be allowed to take, in his electronic credit ledger, credit of the amount of CENVAT credit carried…
GST Law has provided Transitional provisions in respect of Input Tax Credits where dealer was paying taxes at a fixed rate or a fixed amount as a Central tax and /or State VAT/ Sales Tax (i.e. he might…
A big question in everyone’s mind is that what will the treatment of input tax credits, where seller of goods or provider of services has issued invoice before 30.06.2017 under previous laws (i.e. under excise duty, State VAT…
Input tax credits of Excise Duties Where a registered person under GST, who was engaged in the: manufacture of taxable as well as exempted goods under the Central Excise Act, 1944; or provision of taxable as well as…
The objective of this provision is to provide benefit of Input Tax Credits paid under State VAT laws to dealer (registered under GST), on stock in hand as on 01.07.2017 (which is liable to tax under GST), where…
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