SIRS
PLEASE LET ME KNOW HOW TO CLAIM VAT CLOSING ITC TRANSFERED TO GST PORTAL TRAN-1 ON EXPORT OF GOODS AFTER JULY 2017. THE MATERIALS WHICH PURCHASED BEFORE 1ST JULY 2017 USED FOR EXPORT OF GOODS AFTER GST IMPLEMENTATION. WHICH FORM SUBMIITED TO AUTHORITIES ( STATE OR CENTRAL). THE FORMULA WHICH MENTIONED IN GST PORTAL ( 1 X 2 /3)
JULY MONTH EXPORT IS Rs.700000/-
JULY MONTH DOMESTIC SALES Rs.300000/-
AVAILABLE VAT ITC Rs.450000/-
ADJUSTED TURNOVER MEANS Rs.700000+300000/- or WHAT
IF ADJUSTED TURNOVER IS Rs.1000000/- THE ELIGIBLE REFUND IS Rs.315000/- IS CORRECT WORKING
PLEASE CLARIFY HOW CLAIM TRANSITION CREDIT IN PREVIOUS LAW (VAT)
REGARDS
S.RAVICHANDDRAN
CAclubindia
