CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 17 August 2017
TRANSITION MEANS ALL THE INPUT TAX CREDIT BALANCE IN THE OLD TAX TO BE CARRIED FORWARD TO GST REGIME
BUT SUBJECT TO . . . .
1. THE RETURN SHOULD BE FILED WITHIN 90 DAYS FROM APPLICABILITY OF GST
2. PERIOD 6 MONTHS RETURN FILED PROPERLY IN OLD TAX
3. TAX CREDIT IS AVAILED IN OLD TAX ALSO AND THE SAME IS ELIGIBLE IN GST REGIME
4. REGISTERED UNDER GST AND REGISTERED UNDER OLD TAXATION ACT SO TRAN 1 AND IF REGISTERED UNDER GST AND UNREGISTERED UNDER OLD ACT LIKE EXCISE VAT SERVICE ETC OR HAVING NO DOCUMENTS FOR ITC SO TRAN 2
5. VAT INPUT BALANCE SHALL BE TREAT AS SGST
6. EXCISE AND SERVICE TAX CREDIT BALANCE SHALL BE TREATED AS CGST
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