Case 6: Service provider registered under Service Tax paying tax at normal rate
⛳ Return filed under Service Tax shows outstanding/ excess/ unutilised balance of input tax credit
🌴 The excess input tax credit reflected in the return filed for period ended 30th June, 2017 to be carried forward under GST.
🌴 GST FORM TRAN-1 to be filed by 28th Sep, 2017. Commissioner may extend this timeline by another 90 days.
🌴 The GST FORM TRAN-1 to specify separately the details about the credit to be carried forward.
🌴 Excess CENVAT Credit (shown in Service Tax return) shall be carried forward as CGST.
⛳ The balance is not allowed to be carried forward in following cases:
🌴 The Credit is not admissible in the GST Law.
🌴 All returns for 6 months have not been duly filed under the Service Tax Law.
⛳Return filed under Service Tax does not show outstanding balance of input tax credit
🌴 No credit shall be carried forward under GST.
🌴 No requirement to file any detail with respect to the stock in GST FORM TRAN-1.
CA. SHARMA Praveen
GST Trainer & Consultant
+91 9871530610, 8383073005