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?
Menu
Carry forward of Opening balance of input credits
Replies (2)
Nature of carried forward taxes in gst is not specified yet but mainly state taxes will be carried forward as sgst and central taxes like service tax as Cgst.
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.
Recent Topics :
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
Related Topics :
CAclubindia
