21 June 2017
CST is subsumed under GST and IGST is to be charged/paid in case of interstate supply. Full credit of IGST is available.
and there is no concept of forms under GST regime we have to pay tax on every supply even if we are transferring stock to our branch in different state even then also we have to pay tax (earlier same is transfer against F form and there is no VAT/CST on same)
21 June 2017
that I know... I am talking about the closing stock as on 30th june, if I have paid CST on that will I get credit of the cst under GST regime?
21 June 2017
As per transitional provisions credit is allowed to be "CARRY FORWARD", but only those credits are allowed to be carried forward which were also allowed under current regime, but if any credit of any tax is otherwise not available in current regime then that cannot be carry forward.
So, accordingly credit of CST is not carry forward under gst
CAclubindia
