GST TIP – 438

As per Circular No. 33/07/2018-GST dated 23rd Feb 2018, the taxpayer in case utilizes the credit carried forward from the blocked CENVAT Credit from the Electronic Credit Ledger, the same has to be paid with interest and penalty.

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GST TIP – 437

As per Circular No. 33/07/2018-GST dated 23rd Feb 2018, the taxpayer as on 1st of July is not eligible to take the credit on the blocked CENVAT Credit from the carried forward balance in the Electronic Credit Ledger. Blocked input tax credit here refers to input tax credit taken on items such as pipelines laid outside the factory or telecommunication towers.

GST TIP – 436

As per Circular No. 33/07/2018-GST dated 23rd Feb 2018, in case if the taxpayers utilizes the same and the adjudication is not in favor of the taxpayer, the taxpayer has to pay the amount of the utilized CENVAT Credit in the Electronic Credit Ledger with interest and penalty as per the provisions of the CGST Act.

GST TIP – 435

As per Circular No. 33/07/2018-GST dated 23rd Feb 2018, the taxpayer will not utilize the CENVAT Credit in the Electronic Credit Ledger for the amount carried forward on the amount which is pending with the department as on 1st July 2017.