Vat and excise credit after gst

According to the model GST Law, a taxable person can accumulate credits of taxes paid and carry them forward in a return. With the introduction of the GST, the last set of credits will have to be transferred. To do this, you must furnish proof of his/her last return filed under the old regime. You will, therefore, need to make sure that all input taxes paid are included in it; by doing so, you will be claiming the credit of the same under the new regime.

For example, let’s consider July 1, 2017 as the appointed day for the GST rollout. The taxpayer must make sure that he/she has taken into account all the stock lying on June 30, 2017 and claim input credit during the filing of returns for the period ending June 30, 2017. The taxpayer, thus, must ensure that all such goods and services are eligible for such a credit under the new GST law.

Dear Mr.Samir,

Thank you for ur valable answer.

https://vakilsearch.com/advice/gst-transition-input-credits/

Input Tax Credit Under VAT can be carried forward to GST if there is any balance. For service providers or dealers/ manufacturers of exempted goods presently- taxable in GST the VAT credit in goods lying in stock is available. 

Cenvat Credit balances lying with manufacturers/ service providers can be carried forward. For traders registration as 1st stage/ 2nd stage dealers or manufacturers prioro to 1st July to enable central excise credit is reocmmneded.

Past credit verification for compliance and missed credits can be a beneficial activity done by the consultant.   

@ Madhukar Sir...Respected Sir

SSI will also be eligible for excise credit and they dont need to take registration unless and until turnover exceeds Rs.1.5 crore...So do traders need to take registration as said above??Won't they will be able to get cenvat credit by getting the benefit of SSI??

yes u can 

credit of stock of 12 months brfore 31 july 2017 

u will get but for that u have to prepre a stock statement 

of stcok purchas and consume for last 12 months

u dont get the credit which u get earlier 

they are some goods and services for which u dont get credit like motor car and expense like

membership charges ect