Carry Forward of unutlized ITC on Capital Goods under GST
As per Section 140 of CGST Act and Rule 1(2) of Final GST Transition Rules approved by GST Council on 03.06.2017
- Un-Utilized Cenvat Credit on Capital Goods can be Utilized as ITC Under GST.
- Already Utilized portion of Cenvat Credit shall be Specified in the Form GST TRAN-1
