Verification for Transitional credit
Verification for Transitional credit
All the assesses who have taken the transitional credit get ready to verify the credit taken by all of the assesses. A notice is issued by the office of the superintendent of Gandhinagar division. In which all the assesses who have claimed the credit of 25 lakh rupees and the CENVAT credit during the period of nine months.(1st of October: 2016 to 30th of June, 2017) has grown by 25% or more. They are requested to have to prepare a statement of purchases during this period in the format enclosed. The date of submission is yet to be published but assesses have to be prepared with the statements.
If the assessee does not fulfill the two conditions provided in the above para then they don’t have to worry. But if you have taken the credit, then it will be wise to prepare the statement as prescribed to be sure. An IT facility will be provided very soon for the statement to be submitted.
Following is the prescription given with the notice for the growth of CENVAT within prior 9 months of GST:
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Name of the registered person |
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Registration Number in Central Excise or Service Tax who has claimed TRAN Credit |
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Period of return: 01/10/16 to 30/06/17 |
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Name of the supplier under Central Excise or Service Tax |
Registration number of the supplier under Central Excise or Service Tax |
No. of invoices on which credit was taken |
Central Excise duty or Service tax shown as having been paid in their invoices |
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Refer the issued Tran 1 notice.
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