banner_ad

Vat input to gst

VAT (Legacy) 326 views 1 replies
I have closing stock of jewellery as on 31.7.2017. I have input vat paid at 1. To transfer this input to GST should I pay differential 2 ie new gst rate 3 minus vat rate 1. Pls clarify
Replies (1)

Please refer to ITC transition rules. 

You dont have to pay 2% tax immediately. 3% GST can be paaid when the stock is sold. 1% VAT credit will be converted to SGST credit for which you have to submit details of VAT credit in form TRANS 01. VAT credit should be reflected in our last VAT return.

Regards

www.gstsamadhaan.com 

GST Samadhaan - Helping SMEs with GST


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details