Tax Management India. Com
                        Law and Practice: A Digital eBook ...

☞ Data-bank

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News D. Forum
Highlights
What's New

Share:   Share on facebook   Share on twitter   Share on linkedin

        Home        
 
Blank
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

TRANSITIONAL CREDIT AND PENALTY ON GSTR1 2017-18, Goods and Services Tax - GST

Issue Id: - 117978
Dated: 3-6-2022
By:- KERAGODEGOPALARAO ANANTHARAO
TRANSITIONAL CREDIT AND PENALTY ON GSTR1 2017-18

  • Contents

Dear Sir,

1. A registered person who is retail dealer in textiles claimed transitional credit on VAT paid in earlier years. Officer is making ineligible credit to the extent of purchases before 01/07/2016 U/s 140(3)(iv) at the time of Audit. Is any provision for claiming full trasitional credit on purchases above one year.

2. For GSTR-1 late filed for the year 2017-18 is any late filing fees or penalty is attracted?

Kindly clarify sir.

Yours faithfully,

K G Anantharao

Post Reply

Posts / Replies

Showing Replies 1 to 6 of 6 Records

1 Dated: 3-6-2022
By:- KERAGODEGOPALARAO ANANTHARAO

Is notification 43/2018 is applicable availing abatement for late filing fees?


2 Dated: 5-6-2022
By:- Shilpi Jain

If credit is transitioned from earlier returns then there is no time limit for such purchases. However, if credit is claimed on closing stock on 30.6.17 then this time limit will apply.

No relaxation presently available from late fee for filing of returns.


3 Dated: 6-6-2022
By:- KERAGODEGOPALARAO ANANTHARAO

From when interest is applicable?

From 01/07/2017 or from date of availing the credit?


4 Dated: 7-6-2022
By:- vijay kumar

As per amended Section 50, interest is applicable if the transitioned credit is utilized. It is to be paid from the date of utilization till the date of reversal


5 Dated: 8-6-2022
By:- Ravinesh Sinha

I agree with Shilpi ji


6 Dated: 8-6-2022
By:- KERAGODEGOPALARAO ANANTHARAO

THANK YOU SO MUCH


1

Post Reply

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || RSS Blog || Site Map XML ||