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itc of vat

karan (article) (33 Points)

23 August 2018

if we have 15 lakh itc in the form of vat and not filed trans1 then now what we do to set off gst liability from vat liability

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2 Replies

RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 23 August 2018

No way for set off liability from VAT to GST without filling of TRAN.

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Surjeet Negi (947 Points)
Replied 23 August 2018

as per the transitional provision (section 140(1)) of cgst act, a registered person is entitled to carry forward the cenvat credit of return filed immediate preceding the appointed date, his electronic credit legder (as per form Tran-1 ). I understand that you have not filed Tran-1 form, hence in such case you can't carry forward the VAT ITC to your electronic credit ledger for payment of GST.