what will be the nature of these input credits carried forward in return(thus allowed to take these credits in my electronic credit ledger) to utilize it against my GST output liability?
eg if I had Service tax as ITC.. now under gst, how will I consider it?
Also, on issuing credit note in gst period for earlier period, how will the supplier reverse the credit? on what rate will credit note be prepared?
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Carry forward of Opening balance of input credits
Replies (2)
Under GST we have electronic credit register. The assessee cannot fill anything. In case of existing assessee, I think closing balance of your last return may get transferred to GST credit register. Service Tax credit shall be transferred as CGST credit.
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