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GST For Traders – Carry Forward of Input Tax Credit & Other Transitional Provisions

As the Goods and Services Tax (GST) is to be implemented from 1st April 2017, it is very important for all of us to understand the fundamentals of GST. For smooth transition of GST in your business, you must be aware of the transitional provisions related to GST. In this article, we will explain the [...]

By | 2016-12-05T11:19:21+00:00 November 30th, 2016|GST Implementation and Transition, Input Credit|2 Comments

Migration of Existing Assessees and Utilzation of Balance Credits : Transitional Provisions

Migration of Existing Assessees  Utilization of Balance Cenvat Credit (Excise & Service Tax) and Input Tax Credit (Vat) As per Model Act in order to claim the existing credit appearing in the returns as opening credit under GST conditions of the both Acts, (i.e. CENVAT Credit Rules and Model Act) must be fulfilled. This provision [...]

By | 2016-09-28T08:33:44+00:00 September 28th, 2016|Input Credit|0 Comments