Itc of vat stock held on appointed date

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2017 Dear Experts,
i am expecting to have Vat ITC of Approx. 1 Lakh on appointed date. pls enlighten me will vat ITC be admissible against GST payment or Vat ITC will be refund,

Thanks In Advance
Prachi Agarwal

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 June 2017 Vat ITC will be admissible against GST payment.

Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2017 sir. i have purchased the Goods with 14.5% vat and on this goods GST Rate is 28%

plz clarify after 1/7/2017 on sale of this goods whether GST will be charged 14.5% or 28%

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 June 2017 GST will be charged at 28% only.