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