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Credutfor cvd paid till 30th June 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
Replies (6)
do you mean from date of provisional registration
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!
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!
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.
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.
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