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Refund of vat as on 31/03/2017 will be consider in gst act
Dear Expert
please help me regarding new act of GST
we expect that GST will be applicable from 01/04/2017.
my query is, suppose i have vat refund as on 31/03/2017. whether these refund should be carry forward in GST act or this should be claim under VAT Act before taking registration of GST.
Replies (2)
Already registered dealer will be migrated to GST in probably least formality.
Refund due will be paid back, if assessed.
Available Input credits will be migrated.
No it will not be adjusted against GST but to apply for refund. While introducing VAT the State taxes excess remitted are refunded and VAT is separately dealt. There will not be any link.
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