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

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

Migration of Existing Assessees 

registration of existing indirect assessee to gst

Utilization of Balance Cenvat Credit (Excise & Service Tax) and Input Tax Credit (Vat)

utilization of cenvat credit and vat credit in gst

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 needs reconsideration and existing credits as per returns must be allowed as credit under the Model Act if all the conditions of the CENVAT Credit Rules or State VAT Act are fulfilled.

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

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