GST Notice for transferring personal ledger accounts (PLAs) Balance to GST as transitional credit
Transferring personal ledger accounts (PLAs) Balance to GST transitional credit The government has sent notices to companies for “wrongly” claiming transitional credit under GST, a move contested by these entities. Under the pre-GST regime, companies had personal ledger accounts (PLAs) to pay their excise duties. Under GST, they do not require PLAs. They have, instead, transferred their credits in PLAs to TRANS-1, a form… Read More »