TRAN-1 Credit

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..... TRAN-1 Credit
Query (Issue) Started By: - DEEPAK SHARMA Dated:- 24-10-2018 Last Reply Date:- 25-10-2018 Goods and Services Tax - GST
Got 4 Replies
GST
A advertisement company audit of service tax is under process, the company were availing credit on input and were paying full rate of Service Tax. In audit officer raised question to payment of taxes under RCM on TPT and security servic .....

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..... e, the company agreed to its payment. However they wanted to claim it through TRAN-1. Is it possible today to take credit through TRAN-1, please suggest Reply By Ganeshan Kalyani: The Reply: In my view, Tran1 due date is already passed. The Tran1 due date for special case where tran1 was submitted but not filed etc were given opportunity to file file return. In my view your case do not fall unde .....

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..... r the special case. Thus the tax paid under reverse charge can claimed thru refund. Reply By KASTURI SETHI: The Reply: Whether to opt for channel of refund or availment of ITC, it is not litigation free. As advised by Sh.Ganeshan Kalyani Ji, you must apply for refund or for permission to avail credit. If the Department rejects (possibility is there), you must fight for your substantive right. I .....

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..... am sure you will get the decision in your favour through Appellate channels. You have paid taxes/duties and credit cannot be forfeited on the grounds of procedural requirements with the implementation of GST Acts. Throw ball in the court of the department. With the passage of time, there may be a decision of any court on this issue. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: It is not poss .....

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..... ible today. However you may write to the GST council in this regard. They may consider the same. Wait for some time. If the amount involved is high then you may move to High Court to file a writ petition as advised by our experts. Reply By Ganeshan Kalyani: The Reply: Time , money and patients is required to fight for your right to get refund. Obviously, the amount involved versus the cost of l .....

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..... itigation need to be compared before taking a call eventually.
Discussion Forum - Knowledge Sharing .....

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