Become a Govt. Certified GST Practitioner in just 58 hours. Register Now!

transition rules

SOURABH JAIN (ARTICLE) (36 Points)

13 April 2017

suppose if a person has VAT invoice will he be able to claim the 100% of the VAT amount and as he does not have the Excise duty paid invoice and he has suffered the ED on the same so he can have that much amount 40% by proving through other document?

Reply
Follow
Share

5 Replies

prashant (AM) (67 Points)
Replied 13 April 2017

Yes...exactly. He can claim only upto 40% of credit

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

SOURABH JAIN (ARTICLE) (36 Points)
Replied 13 April 2017

so he will be claiming 40% for ED and 100% for VAT

prashant (AM) (67 Points)
Replied 13 April 2017

Yes... Conceptually

SOURABH JAIN (ARTICLE) (36 Points)
Replied 13 April 2017

suppose one more scenario if I had purchased a material interstate which was charged with CST earlier I could not take the credit for that

but now in get transition rule if I on submitting the invoices of CST charged can I take the 40% credit ??

prashant (AM) (67 Points)
Replied 13 April 2017

As earlier also you were not able to take the credit of CST so here in this case also credit pertaining to GST may also not get passed on. As far as the credit of excise duty involved if the dealer is registered under excise than he can take the credit fully by showing all the docs and if he is not registered in that case dealer can take the credit upto 40% only.