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TMI BlogTransitional Credit to be written offX X X X Extracts X X X X X X X X Extracts X X X X ..... a) XYZ Pvt. Ltd. have unutilised balance in Excise PLA A/c from F Y 2014-15 onwards under Education Cess and SHEC. Post GST XYZ also applied for refund through ACES portal, but did not receive the ref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... und. Whether this amount is required to be written off in the books of accounts? The statutory auditors want confirmation on the same. b) XYZ paid service tax under RCM as per Excise Audit of Apr-16 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o June-17 with interest penalty. This amount could not be claimed post GST introduction. Whether this amount to be written off in books of accounts or to keep under receivables? The statutory audito ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs want confirmation on the same. - Reply By Ganeshan Kalyani - The Reply = It depends upon the probability. In first query, the chances are less to get refund. So, should be written off in the book ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of accounts. In the second, the credit was to be carried forward to GST thru Tran-1 . If the same did not happen, then the chances of claim it is also less. Thus, should be written off. - Transit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional Credit to be written off - Query Started By: - Kaustubh Karandikar Dated:- 22-8-2020 Goods and Services Tax - GST - Got 1 Reply - GST - Discussion Forum - Knowledge Sharing, reply post by an e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xpert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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