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Trans - 1 filed have excess itc till date not utilised in gst return

ITC / Input 186 views 1 replies

I am having Excess in last VAT June 2017  ITC upto Rs.120000/- i have filed Trans 1 and its shows in GST Portal  Tax  portal also Til Date July 2018 i am having Excess ITC in GST Portal next in Auguts 2018 I need to Pay the Tax can i use the Trans - 1 Amount Rs.120000/- Filed 

Replies (1)
A registered person is entitled to take in his electronic credit legder(ECL) , VAT credit carried forward under transitional provision sec.140(1) of cgst act.
further as per sec.49 of cgst act, the amount available in ECL may be used for making payment towards output tax. utilisation must be done as per provsion of section 49.


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