TRAN credit verification

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..... TRAN credit verification
Query (Issue) Started By: - V Rajalakshmi Dated:- 4-11-2022 Last Reply Date:- 11-11-2022 Goods and Services Tax - GST
Got 4 Replies
GST
The company had availed TRAN credit on account of VAT paid material received after appointed date and declared the details in TRAN 1 return .The company has been served with notice saying that the part of the credit is in -eli .....

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..... gible due the supplier has not remitted the tax. The company is in possession of original invoice and proof of payment made to the supplier . Any relief is possible or the tax needs to be compulsorily to be paid? Reply By Ganeshan Kalyani: The Reply: The credit is allowed provided the tax invoice is in the possession of the taxpayer. Reply By KASTURI SETHI: The Reply: Must fight the case on m .....

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..... erits. I also agree with Sh.Ganeshan Kalyani Ji. Reply By Amit Agrawal: The Reply: Section 140 (5) reads as follows: "A registered person shall be entitled to take, in his electronic credit ledger, credit of eligible duties and taxes in respect of inputs or input services received on or after the appointed day but the duty or tax in respect of which has been paid by the supplier under th .....

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..... e 10[existing law, within such time and in such manner as may be prescribed], subject to the condition that the invoice or any other duty or tax paying document of the same was recorded in the books of account of such person within a period of thirty days from the appointed day: Provided that the period of thirty days may, on sufficient cause being shown, be extended by the Commissioner for a fu .....

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..... rther period not exceeding thirty days: Provided further that said registered person shall furnish a statement, in such manner as may be prescribed, in respect of credit that has been taken under this sub-section" Reply By V Rajalakshmi: The Reply: thank you sir
Discussion Forum - Knowledge Sharing .....

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