Quantum of transfer of CENVAT Credit to GST - transitional ...

Section 140(1) CGST Act: Only Admissible CENVAT Credit Can Transition to GST, Not Central Excise Act Credits.

September 12, 2022

Case Laws Central Excise AT

Quantum of transfer of CENVAT Credit to GST - transitional credit - It is obvious that as per first proviso to Section 140(1), only the credit which is admissible as input tax credit under the CGST Act can be availed as input tax credit. Obviously, the quantum of credit which relates to the items which continued to be covered under the Central Excise Act would not be admissible as input tax credit under CGST Act and therefore, the argument of the Revenue that the Respondent should have transferred the entire credit is incorrect. - AT

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Quantum of transfer of CENVAT Credit to GST - transitional ...

Section 140(1) CGST Act: Only Admissible CENVAT Credit Can Transition to GST, Not Central Excise Act Credits.

September 12, 2022

Case Laws Central Excise AT

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