Existing vat credit set off against gst

Hi Neha,

Can U Specify the section or provision under Gst ?.Actually I am very confused on this point.

Thanks

Hari

You will find relevant provision in your State GST Act.

Also, you must have filed all required VAT returns within period of 6 months before GST applicability date.

https://www.cbec.gov.in/resources//htdocs-cbec/gst/gst-transition-rules.pdf

See Section 16 And 16(a)

Hi,

I have gone through all provisions of GST regarding ITC but nowhere it is mentioned about taking state administered tax credit like VAT,entry tax etc into SGST Credit and Set off against SGST liability and similarly,Central Govt adminstered Tax Credit like Excise duty,Service TAX ans CST etc to CGST credit and Set off Against CGST liability.

Please Clarify me on this point.

thanks,

hari

Sir , excise duty and service tax are levied by central govt. VAT , eNtry tax is levied by state. So now getting into gst there is central tax and state tax. So the credit of excise and service tax wud b standing as cgst and VAT credit would be standing as SGST.    Also if you go through the transition provision you'll come to know abt it

Do take care of transition compliance requirements:

all C/F/H/I forms must be available.

returns in last 6 months before appointed date must be filed.

Input credit restricted to 40% in case duty payment document (Like Excise Invoice) not available.

Thanks so much to Neha,Rohit and Praveen.

Thanks lot to all of u

See Section 16 And 16(a)