Transitional CENVAT credit permits full unavailed capital-goods credit, while TRAN-1 invoice omissions require verification of supporting records.
Case-Laws
GST
Section 140(2), read with its Explanation, permits transition of unavailed CENVAT credit on pre-GST capital goods where the credit was admissible under both the existing and GST laws and was not carried forward in the earlier return. No requirement exists that part of the credit must previously have been availed, and a nil prior claim does not restrict otherwise eligible credit to fifty per cent. Where TRAN-1 records one capital-goods invoice but includes an annexure covering multiple invoices, omitted invoice details may be produced for verification. Credit on those invoices depends on verification of their eligibility and supporting records.
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