Vat credit to be carried forward under gst
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2017
I am textile manufacturer and exempt under VAT. However I have input tax credit of vat paid on purchase of yarn of Rs 2 lacs during last year and i have shown them as ITC under vat return.
Now my question is can I carry forward this ITC under GST ? This ITC is for manufacture of exempt product under VAT but in GST the same is taxable @ 5%.
Please clarify if anyone can. Thanks in advance
Now my question is can I carry forward this ITC under GST ? This ITC is for manufacture of exempt product under VAT but in GST the same is taxable @ 5%.
Please clarify if anyone can. Thanks in advance
27 June 2017
All ITC Carried Forwards To GST but All Purchase Bills available
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
