190.            XYZ Ltd., a manufacturer of capital goods supplied  capial assets worth  Rs 10,00,000 (including excise duty of Rs. 1,00,000) on 5th June 2016. In the financial year 2016-17, he could only avail CENVAT Credit to the extent of 50% i.e., Rs. 50,000. Determine whether XYZ Ltd. can avail credit for balance amount after 1st July under GST Act?

As per section 140(1) of the CGST Act, every registered person, other than a person opting to pay tax under section 10, shall be entitled to take, in his electronic credit ledger, the amount of CENVAT credit carried forward in the return relating to the period ending with the day immediately preceding the appointed day, furnished by him under the existing law in such manner as may be prescribed. Therefore, the unavailed CENVAT credit on capital goods as on 1st July, 2017 will be Rs. 1,00,000 - 50,000 = 50,000.  XYZ Ltd., is entitled for balance cenvat credit of 50,000 on migration