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Query Answer
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TRAN-1 credit was based on last original VAT return or revised return?

Reply

As per Section 142(9)(b) of CGST Act, 2017, where any return, furnished under the existing law, is revised after the appointed day but within the time limit specified for such revision under the existing law and if, pursuant to such revision, any amount is found to be refundable or CENVAT credit is found to be admissible to any taxable person, the same shall be refunded to him in cash under the existing law, notwithstanding anything to the contrary contained in the said law other than the provisions of sub-section (2) of section 11B of the Central Excise Act, 1944 and the amount rejected, if any, shall not be admissible as input tax credit under this Act. 

After perusal of above section, in my opinion TRAN-1 credit is based on original VAT return instead of revised one.

Therefore, a taxpayer is eligible to carry forward ITC according to original VAT return, and in case of revision of VAT return (where taxpayer has claimed excess ITC in comparison to original return) such excess ITC shall be refund to him by VAT department.

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