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Credit of CST

mehul patel (article) (213 Points)

24 June 2017

Credit of CST available in GST as CGST

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18 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160327 Points)
Replied 24 June 2017

Sorry..........

mehul patel (article) (213 Points)
Replied 24 June 2017

it means not available

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 24 June 2017

No credit of CST available in GST....

Ajay Prajapati (512 Points)
Replied 24 June 2017

your june CST ITC . in july you can adjust it with input CGST

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 24 June 2017

No it cant be Ajay Prajapati.

Quote sec or notification if any....

Ajay Prajapati (512 Points)
Replied 24 June 2017

You are eligible for input tax credit under GST. In GST, you will be eligible for input tax credit, provided you are a regular tax payer. The taxable person taking composition levy under GST does not have the right to claim input tax credit ... .. You have the right to invest in closing stock (including semi-manufactured goods and finished goods) of invoices or any other Fixed duties / tax payment papers are available ..... Date of invoice or any other prescribed fee / tax payable document is 12 months from date of transfer in GST Be within the issues.Shifting of existing Input Tax Credit on Closing Stock in GST – As per Transition Provision U/S 140(3) of CGST Act 2017 .

mehul patel (article) (213 Points)
Replied 24 June 2017

is credit of CST available as CGST?

Ajay Prajapati (512 Points)
Replied 24 June 2017

yessss ... all central tax ITC ( CST,ST,EXISE)adjusted with CGST
all state tax ITC (VAT)adjusted with SGST

mehul patel (article) (213 Points)
Replied 24 June 2017

if in case dealer is unregistered and there is stock purchase from other state then credit of CST?

Ajay Prajapati (512 Points)
Replied 24 June 2017

unregistered dealer never credit ITC ...

Ajay Prajapati (512 Points)
Replied 24 June 2017

sorry ... credit if CST in not avlaible in GST ... only vat and exise have credit on gst on your closing stock ....

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CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 25 June 2017

Unregister dealer also take credit but not of CST.

Onkar (Self Employed) (111 Points)
Replied 25 June 2017

sorry , if dealer is unregister then where he use that credit ?

Ajay Prajapati (512 Points)
Replied 25 June 2017

its means if you unregistered in prensent tax law ... but in july you registered himself in GST then you have to take cr

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