TMI BlogGoods manufactured under excise regime now written offX X X X Extracts X X X X X X X X Extracts X X X X ..... XYZ(Manufacturer) had transferred the unutilized CENVAT credit laying in balance as on July 17 to Electronic credit ledger under GST through TRAN 1 . They are holding certain manufactured stocks of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... excise regime which they now want to write off. Are they required to proportionately reverse the input tax credit since they had transferred the unutilized CENVAT credit through TRAN 1 from Excis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e regime To GST regime? - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = Yes, they have to definitely reverse the same and the consequences also in GST transfer. - Reply By Ganeshan Kalyani - Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Reply = Dear Sir, one of the condition in transitional provision was that the duty paid stock should be sold as taxable under GST. Since, some stock is not sold yet, then input tax credit to that e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xtend is not admissible. - Reply By KASTURI SETHI - The Reply = I support the views of both experts. - Goods manufactured under excise regime now written off - Query Started By: - Kaustubh Karand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ikar Dated:- 22-2-2019 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - 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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