When transitional credit will be allowed to take? Whether it can be taken in July 17 return? If yes, How?
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When transitional credit will be allowed to take?
Replies (3)
it will be allowed only after filling tran forms. It will be credited to electronic credit ledger.
Whether it can be used for payment of July-17 GST liability.
Suppose GST payable is Rs. 50,00,000
ITC for July 17 is Rs. 20,00,000
Transitional Credit Excise Rs. 10,00,000
Transitional Credit VAT Rs. 6,00,000
How much tax should be paid in July17?
yes u can take it in july return but as on now ONLY 3B is available and no tran forms are available so in 3B u can not take tran. itc as per my view. U may put such itc figure in OTHER ITC field in 3B. However I am not sure whether it will be allowed now or not??
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