14 August 2022
respected sir , whether transitional credit relates to central excise or cen-vat claimed and received on the stock of goods held on 01-07-2017. is to pass on to the costumers or not. if yes what is the benefit for taxable person. thanking you
15 August 2022
There is no question of the credit passing off to anyone. The same was paid while purchase of goods, & the ITC is available to be set off against GST output. Yes, your overall cost gets reduced to that effect.
CAclubindia
