Rule 1 – Final Rules (Draft) – Issue of Credit Transfer Document – Issue of Credit Transfer Document to be inserted in the CENVAT Credit Rules, 2004 – Rule 1 – Draft Rule for issue of Credit Transfer Document to be inserted in the CENVAT Credit Rules, 2004 for transfer of cenvat credit paid on specified goods available with a trader as on appointed date A.(1) A manufacturer who was registered under Central Excise Act, 1944 (hereafter referred as manufacturer in this rule) may issue a document called Credit Transfer Document to evidence payment of duty of excise specified in the First Schedule to the Central Excise Tariff Act, 1985, paid on goods manufactured and cleared by him before the date on which CGST Act, 2017 comes into force, under
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ocument shall be serially numbered and shall contain the Central Excise registration number, address of the concerned Central Excise Division, name, address and GSTIN number of the person to whom it is issued, description, classification, invoice number with date of removal, mode of transport and vehicle registration number, rate of duty, quantity, value and duty of excise specified in the First Schedule to the Central Excise Tariff Act, 1985 paid thereon. (iv) The manufacturer is satisfied that the dealer to whom Credit Transfer Document is issued is in possession of such manufactured goods in the form in which it was cleared by him. (v) Credit Transfer Document shall be issued within 30 days of the appointed date on which CGST Act, 2017 c
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f Credit Transfer Document shall , at the time of making supply of such goods, mention the corresponding Credit Transfer Document number in the invoice issued by him under section 31 of the CGST Act, 2017. (2) Where a manufacturer issues a Credit Transfer Document such that credit of central tax is availed twice on the same goods under the provisions of CGST Act, 2017 and the rules made thereunder, he shall be jointly and severally responsible for excess credit availed by the dealer and provisions for recovery of credit, interest and penalty under the CENVAT Credit Rules, 2004 shall apply mutatis-mutandis on such manufacturer. (3) A manufacturer issuing a Credit Transfer Document shall submit details thereof in table 1 of TRANS 3 on common
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