Verification for Transitional credit in GST
Verification for Transitional credit in GST, as expected all the taxpayers who have availed the Transitional credit (input tax credit of pre-GST era ) in GST, should be ready to get checked/ verified by the GST officials.In order to the verification process, the superintendent of GST Gandhi Nagar Division Gujrat has issued a Notice for Verification for Transitional credit, according to this notice Taxpayers who have availed transitional credit greater than Rs. 25 lakh and where the closing balance of CENVAT credit during the period of 1“ of October: 2016 to 30th of June, 2017 has grown by 25% or more are requested to prepare a statement of purchases during this period in the format enclosed. This verification return would be required to be filed by a date to be notified. IT facility for filing this growth return would be shortly provided, also requested to prepare a return/statement as per enclosed Proforma so that same may be uploaded as and when IT facility would be provided.
In relation to taxpayers whose credit growth would be verified as above, they may be advised to confirm from the suppliers of goods and services on whose invoice credit has been taken, that the said supplier had declared the goods and services in their respective returns and had paid the tax thereon.
and if the taxpayers have not availed transitional credit greater than Rs. 25 lakh or where the closing balance of CENVAT credit during the period of 1“ of October: 2016 to 30th of June, 2017 has not grown by 25% or more, are not required to fulfil the process.
But if you fulfil the above-mentioned condition of Transitional Credit should prepare the statement in the prescribed manner and the GSTIN will provide the facility to submit the above-said statement
Kindly go through the below mention format for Verification for Transitional credit in GST
| Name of the registered person | |||
| Registration Number in Central Excise or Service Tax who has claimed TRAN Credit | |||
| Period of return: 01/10/16 to 30/06/17 | |||
| 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 |