How to differentiate Compensation cess with Credit Transfer Document?
What is Compensation cess? How does Credit Transfer Document work under GST regime? What are the difference between Compensation cess and Credit Transfer Document?
GST cess is a compensation cess levied under section 8 of The Goods and Services Tax (Compensation to State) Act, 2017. GST cess is levied on intra-state supply of goods or services and inter-state supply of goods or services to provide compensation to the States for loss of revenue due to implementation of GST in India.
The concept of Credit Transfer Document (CTD) has been recently introduced in GST to transfer CENVAT credit paid on specified goods available with a trader on GST implementation date. In this article, we look at GST Credit Transfer Document in detail.
The details about Compensation cess and Credit Transfer Document with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Compensation cess and Credit Transfer Document, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Compensation cess and Credit Transfer Document separately below. You may kindly read the below links to know more about Credit Transfer Document and Compensation cess.
Meaning of term compensation cess under GST
Term Credit Transfer Document under GST
The above information easily explains about Credit Transfer Document and Compensation cess.
We hope, you have satisfied with the difference between Compensation cess and Credit Transfer Document explained above. Do you have different thought on difference between Credit Transfer Document and Compensation cess?
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