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Credutfor cvd paid till 30th June 2017

jitesh (ceo) (24 Points)

24 April 2017

will i get credit cvd paid till 30th june for imports and will this credit adjustable against GST to be paid from 1st July 2017

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6 Replies

(Guest)

the date u get gst registration from that day

u can carried forward all credit u have in your books

(Guest)

the date u get gst registration from that day

u can carried forward all credit u have in your books

jitesh (ceo) (24 Points)
Replied 24 April 2017

do you mean from date of provisional registration

Rahul Chhallani (42 Points)
Replied 24 April 2017

in case you avail CVD the closing balance of cenvat credit shall be carried forward under the GST refine as CGST which could be adjusted against any CGST and IGST liability!

Rahul Chhallani (42 Points)
Replied 24 April 2017

the closing balance as reflected in the return to be filed ended 30 June 2017 in case GST is implemented from 1 July shall be carried forward!

HIREN (Chartered Accountant) (320 Points)
Replied 25 April 2017

You can take Credit under GST against excise, service tax, vat, cvd etc only to the extent you are allowed to take credit under thier existing laws.
In short if existing governing law allows you to take credit of particular tax paid then you can carry forward the same to GST regime.