Tax audit u/s 44ab

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2018 Clause 27(a) of Form 3CD :
Amount of Central Value Added Tax Credits/ Input Tax Credit(ITC) availed of or utilised during the previous year
and its treatment in profit and loss account and treatment of outstanding Central Value Added Tax Credits/Input Tax Credit(ITC) in accounts.

CENVAT/ITC Amount Treatment in Profit & Loss/Accounts
Opening Balance
Credit Availed
Credit Utilized
Closing /outstanding Balance

What does the Input Tax credit ( ITC) ? Is it applicable to GST and 3 months VAT?
There is no notification about it,though it appears in 3CD schema .
How we will deal with this clause?
Experts,Please clarify
Best Regards

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2018 Surprisingly no answer from Experts !!!

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