TREATMENT OF UNUTLISED CENVAT CREDIT & VAT CREDIT

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DEAR ALL,

ALL OF YOU KNOW THAT GST WILL BE INTROUDED FROM 1ST APRIL 2011.

WHAT WOULD HAPPEN TO EXISTING ACCUMALATED & UNUTILIZED CREDIT BOTH CENVAT & VAT CREDITS AFTER INTRODUCTION OF GST?

WHAT IS THE TRANSITIONAL PROVISIONS FOR INTRODUCTION OF GST ?

PLEASE GIVE FEEDBACK WITH SUPPORTING.

THANKS IN ADVANCE.

Replies (3)

I also want to know this provision.

Thanks

Let us wait for draft GST and there after rules in this regards. I am sure that they are has to be a provision for utilisation of the accumulated credit of the past.

Definitly they will give a provision at the time of introducing GST.  All the assesse having the same doubt in this regard.  we will wait and see..


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