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Introduction: This article presents a matrix about how to claim input tax credit on opening stock as per transitional provisions u/s 140 of CGST Act, 2017 in respect of various type of situations.
Matrix of Input Tax Credit on opening stock in Transitional Provision as per section 140 of CGST Act, 2017:
| In case of a Excise and VAT Registered Manufacturer | |||||||
| S. No. | Type of Purchase | Section | Stock | CGST Credit Amount | Section | Stock | SGST Credit Amount |
| i) | Excise plus Vat Invoice | 140(1) | FG, SMG, RM | Cenvat C/f as per Return of Excise | 140(1) | FG, SMG, RM | Vat C/f as per Vat returns |
| ii) | Excise plus CST Invoice | 140(1) | FG, SMG, RM | Cenvat C/f as per Return of Excise | 140(1) | FG, SMG, RM | Vat C/f as per Vat returns |
| iii) | Excise plus Sales tax exempt Invoice | 140(1) | FG, SMG, RM | Cenvat C/f as per Return of Excise | 140(1) | FG, SMG, RM | Vat C/f as per Vat returns |
| iv) | Import Invoice | 140(1) | FG, SMG, RM | Cenvat C/f as per Return of Excise | 140(1) | FG, SMG, RM | Vat C/f as per Vat returns |
| v) | Non Excise plus Vat Invoice | 140(1) | FG, SMG, RM | Cenvat C/f as per Return of Excise | 140(1) | FG, SMG, RM | Vat C/f as per Vat returns |
| vi) | Non Excise plus CST Invoice | 140(1) | FG, SMG, RM | Cenvat C/f as per Return of Excise | 140(1) | FG, SMG, RM | Vat C/f as per Vat returns |
| vii) | Kaccha Bill or No Invoice | 140(1) | FG, SMG, RM | Cenvat C/f as per Return of Excise | 140(1) | FG, SMG, RM | Vat C/f as per Vat returns |
| viii) | Credit of Excise and VAT on Capital Goods | 140(2) | Balance unclaimed can be C/f if permissible under both the existing law & GST law | 140(2) | Balance unclaimed can be C/f if permissible under both the existing law & GST law | ||
–
| In case of a Manufacturer Unregistered in Excise but Registered in VAT | |||||||
| S. No. | Type of Purchase | Section | Stock | CGST Credit Amount | Section | Stock | SGST Credit Amount |
| i) | Excise plus Vat Invoice | 140(3) | FG, SMG, RM | 100% of Excise in Bill as CGST | 140(1) | FG, SMG, RM | Vat C/f as per Vat Returns |
| ii) | Excise plus CST Invoice | 140(3) | FG, SMG, RM | 100% of Excise in Bill as CGST | 140(1) | FG, SMG, RM | Vat C/f as per Vat Returns |
| iii) | Excise plus Sales tax exempt Invoice | 140(3) | FG, SMG, RM | 100% of Excise in Bill as CGST | 140(1) | FG, SMG, RM | Vat C/f as per Vat Returns |
| iv) | Import Invoice | 140(3) | FG, SMG, RM | 100% of Excise & SAD in BOE as CGST | 140(1) | FG, SMG, RM | Vat C/f as per Vat returns |
| v) | Non Excise plus Vat Invoice | 140(3) | FG, SMG, RM | NIL | 140(1) | FG, SMG, RM | Vat C/f as per Vat
Returns |
| vi) | Non Excise plus CST Invoice | 140(3) | FG, SMG, RM | NIL | 140(1) | FG, SMG, RM | Vat C/f as per Vat Returns |
| vii) | Kaccha Bill or No Invoice | 140(3) | FG, SMG, RM | NIL | 140(1) | FG, SMG, RM | Vat C/f as per Vat Returns |
| viii) | Credit of Excise and VAT on Capital Goods | NA | NIL | 140(2) | Balance unclaimed can be C/f | ||
–
| In case of a Importer Trader, FSD or SSD registered in Excise and Vat | ||||||||
| S. No. | Type of Purchase | Section | Stock | CGST Credit Amount | Section | Stock | SGST Credit Amount | |
| i) | Import Invoice | 140(3) | FG | 100% of Excise & SAD in BOE as CGST | 140(1) | FG | Vat C/f as per Vat returns | |
| ii) | Excise plus Vat Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(1) | FG | Vat C/f as per Vat Returns | |
| iii) | Excise plus CST Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(1) | FG | Vat C/f as per Vat Returns | |
| iv) | Excise plus Sales tax exempt Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(1) | FG | Vat C/f as per Vat Returns | |
| v) | Non Excise plus Vat Invoice | 140(3) | FG | Deemed Credit | CGST | 140(1) | FG | Vat C/f as per Vat Returns |
| vi) | Non Excise plus CST Invoice | 140(3) | FG | Deemed Credit | CGST | 140(1) | FG | Vat C/f as per Vat Returns |
| vii) | Kaccha Bill or No Invoice | 140(3) | FG | Deemed Credit | CGST | 140(1) | FG | Vat C/f as per Vat Returns |
| viii) | Credit of Excise and VAT on Capital Goods | NA | NIL | 140(2) | Balance unclaimed can be C/f | |||
–
| In case of a Importer Trader unregistered in Excise but registered in Vat | |||||||
| S. No. | Type of Purchase | Section | Stock | CGST Credit Amount | Section | Stock | SGST Credit Amount |
| i) | Import Invoice | 140(3) | FG | 100% of Excise & SAD in BOE as CGST | 140(1) | FG | Vat C/f as per Vat returns |
| ii) | Excise plus Vat Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(1) | FG | Vat C/f as per Vat Returns |
| iii) | Excise plus CST Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(1) | FG | Vat C/f as per Vat Returns |
| iv) | Excise plus Sales tax exempt Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(1) | FG | Vat C/f as per Vat Returns |
| v) | Non Excise plus Vat Invoice | 140(3) | FG | Deemed CGST Credit | 140(1) | FG | Vat C/f as per Vat Returns |
| vi) | Non Excise plus CST Invoice | 140(3) | FG | Deemed CGST Credit
|
140(1) | FG | Vat C/f as per Vat Returns |
| vii) | Kaccha Bill or No Invoice | 140(3) | FG | Deemed CGST Credit | 140(1) | FG | Vat C/f as per Vat Returns |
| viii) | Credit of Excise and VAT on Capital Goods | NA | NIL | 140(2) | Balance unclaimed can be C/f | ||
–
| In case of a Trader unregistered in Excise but registered in Vat | |||||||
| S. No. | Type of Purchase | Section | Stock | CGST Credit Amount | Section | Stock | SGST Credit Amount |
| i) | Import Invoice | 140(3) | FG | 100% of Excise & SAD in BOE as CGST | 140(1) | FG | Vat C/f as per Vat returns |
| ii) | Excise plus Vat Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(1) | FG | Vat C/f as per Vat Returns |
| iii) | Excise plus CST Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(1) | FG | Vat C/f as per Vat Returns |
| iv) | Excise plus Sales tax exempt Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(1) | FG | Vat C/f as per Vat Returns |
| v) | Non Excise plus Vat Invoice | 140(3) | FG | Deemed CGST Credit | 140(1) | FG | Vat C/f as per Vat Returns |
| vi) | Non Excise plus CST Invoice | 140(3) | FG | Deemed Credit
CGST |
140(1) | FG | Vat C/f as per Vat Returns |
| vii) | Kaccha Bill or No Invoice | 140(3) | FG | Deemed CGST Credit | 140(1) | FG | Vat C/f as per Vat Returns |
| viii) | Credit of Excise and VAT on Capital Goods | NA | NIL | 140(2) | Balance unclaimed can be C/f | ||
–
| In case of a Unregistered Trader | |||||||
| S. No. | Type of Purchase | Section | Stock | CGST Credit Amount | Section | Stock | SGST Credit Amount |
| i) | Import Invoice | 140(3) | FG | 100% of Excise & SAD in BOE as CGST | 140(3) | FG | Deemed Credit as SGST |
| ii) | Excise plus Vat Invoice | 140(3) | FG | 100% of Excise
in Bill as CGST |
140(3) | FG | 100% of VAT in Bill as SGST |
| iii) | Excise plus CST Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(3) | FG | Deemed Credit as SGST |
| iv) | Excise plus Sales tax exempt Invoice | 140(3) | FG | 100% of Excise in Bill as CGST | 140(3) | FG | Deemed Credit as SGST |
| v) | Non Excise plus Vat Invoice | 140(3) | FG | Deemed CGST Credit | 140(3) | FG | 100% of VAT in Bill as
SGST |
| vi) | Non Excise plus CST Invoice | 140(3) | FG | Deemed CGST Credit | 140(3) | FG | Deemed Credit As SGST |
| vii) | Kaccha Bill or No Invoice | 140(3) | FG | Deemed CGST Credit | 140(3) | FG | Deemed Credit As SGST |
| viii) | Credit of Excise and VAT on Capital Goods | NA | NIL | NA | NIL | ||
–
In case of a Unregistered Manufacturer Unregistered both under Excise & VAT
| S. No. | Type of Purchase | Section | Stock | CGST Credit Amount | Section | Stock | SGST Credit Amount |
| i) | Import Invoice | 140(3) | RM, SMG, FG | 100% of Excise & SAD in BOE as CGST | 140(3) | RM, SMG, FG | Deemed Credit as SGST |
| ii) | Excise plus Vat Invoice | 140(3) | RM, SMG, FG | 100% of Excise in Bill as CGST | 140(3) | RM, SMG, FG | 100% of VAT in Bill as SGST |
| iii) | Excise plus CST Invoice | 140(3) | RM, SMG, FG | 100% of Excise
in Bill as CGST |
140(3) | RM, SMG, FG | Deemed Credit as SGST |
| iv) | Excise plus Sales tax exempt
Invoice |
140(3) | RM, SMG, FG | 100% of Excise in Bill as CGST | 140(3) | RM, SMG, FG | Deemed Credit as SGST |
| v) | Non Excise plus Vat Invoice | 140(3) | RM, SMG, FG | NA | 140(3) | RM, SMG, FG | 100% of VAT in Bill as SGST |
| vi) | Non Excise plus CST Invoice | 140(3) | RM, SMG, FG | NA | 140(3) | RM, SMG, FG | Deemed Credit as SGST |
| vii) | Kaccha Bill or No Invoice | 140(3) | RM, SMG, FG | NA | 140(3) | RM, SMG, FG | NA |
| viii) | Credit of Excise and VAT on
Capital Goods |
NA | NIL | NA | NIL |
The author is a practising CA based in Delhi and is registered Insolvency Professional. He can be reached at cavinodchaurasia@gmail.com , Mob. +91 9953587496.
Disclaimer: The views expressed in this article are strictly personal. The content of this document are solely for informational purpose. It doesn’t constitute professional advice or recommendation. The Author does not accept any liabilities for any loss or damage of any kind arising out of information in this article and for any actions taken in reliance thereon.
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My question is regarding filling Form TRAN-1, TRAN -2 and TRAN-3. My question is, If a dealer is registered in either in excise or in vat Act, what will be in his case in following situations:
1- He is having vat credit in his last return filled in June, 2017.
2- He is having paid in excise in his purchase invoices, he is registered in vat act, but not registered in excise act.
3-He is having paid excise in his invoices, he is registered as a dealer in excise and vat act.
Which section covered in above case and which part of Transition form should be filled in above situations.
Sir in case of manufacturer deemed credit is not available. But you written as deemed credit will be available in case of unregistered manufacture.So kindly clear the opinion about it.