. What does a credit-transfer document means ?In what ways it work for traders?

A manufacturer could have cleared goods to a dealer before the GST. In this case, a dealer not registered under the Central Excise Act is nevertheless registered under the CGST Act 2017. To address such cases, the 2004 CENVAT Credit Rules have a special provision. A credit transfer document may be issued by the manufacturer to the dealer in such an instance. A car. (b) The manufacturer keeps verifiable records regarding clearance and payment of duty applicable to each piece. These records can be requested by a Central Excise officer for verification. (c) The Credit Transfer document shall be serially number and contain the Central Excise registration numbers, address of the Central Excise Division, name and GSTIN numbers of the person to which it is issued, description, class, invoice number with date and removal, mode and vehicle registration numbers, duty rate, duty, quantity, value, and excise as specified in the Central Excise Tariff Act, 1986. (d) The manufacturer has verified that the dealer to which Credit Transfer Document is issued is actually in possession of the manufactured goods in the condition in which they were cleared by him on 1 July 2017. Credit Transfer Document shall be issued until 30 July 2017. A copy of the invoices must be attached to the Credit Transfer document. The dealer using CTDs must keep copies of all invoices related to selling and buying from the manufacturer to the dealer. CTDs shall not be issued to dealers who received invoices for identical goods prior to the date specified. (h) Credit Transfer Documents are not available to dealers who avail credit for manufactured goods. This applies only to identical goods made by the same manufacturer that are in stock at the dealer. (i) Credit Transfer Document credit is only available to dealers who mention the corresponding Credit Transfer Document Number in their invoices.

Migratory FAQs

How GST is beneficial for traders ?

Are all traders need to register under GST ?

Is it mandatory to file monthly returns if a trader does not choose to pay tax under the composition system?

What are the details that need to enter in the form GSTR -1 ?

. Under GST, will traders be required to declare their IEC at the time of imports and exports?

Can traders claim the credit for IGST paid at imports to discharge their GST domestic liabilities? How can you do this if yes?

Is there a way to pay GST taxes for small traders?

Which is the eligible category to opt for composition levy What are the Special Category States where the turnover limit for the Composition Levy purpose for CGST or SGST purposes shall be Rs. 50 lakhs

What is the tax rate under the Composition levy ?

Who are the traders not eligible for the composition scheme?

What tax will a trader be required to pay?

If a person avails a composition scheme in a financial year, the turnover is Rs.75 Lakhs/Rs. 50 Lakhs in the course of the financial year, i.e. He crosses Rs.75 Lakhs/Rs. 50 Lakhs in December will he eligible tax under the composition scheme for the year?

How is the aggregate turnover calculated for composition purposes?

Is it possible for a person who has chosen to pay tax under the composition system to receive Input Tax Credit on his inward supplies?

A registered person who buys goods from a trader subject to the composition scheme can claim credit for purchases made by dealer ?

Is it required that monthly returns be filed by the person who chooses to pay tax under the composition plan?

What are the essential details enter in the form GSTR-4?

The composition scheme allows a person to opt for tax payment from unregistered persons. Is the composition dealer required to pay reverse tax? If yes, how?

What is the format in which a taxable person must give an indication for the option to pay tax under the composition scheme?