CA. BIJENDER KR. BANSAL (ACA, B.COM) (8148 Points)
28 July 2010DEAR ALL,
ALL OF YOU KNOW THAT GST WILL BE INTROUDED FROM 1ST APRIL 2011.
WHAT WOULD HAPPEN TO EXISTING ACCUMALATED & UNUTILIZED CREDIT BOTH CENVAT & VAT CREDITS AFTER INTRODUCTION OF GST?
WHAT IS THE TRANSITIONAL PROVISIONS FOR INTRODUCTION OF GST ?
PLEASE GIVE FEEDBACK WITH SUPPORTING.
THANKS IN ADVANCE.
Prabhat Kumar
(Advocate & Consultant)
(1912 Points)
Replied 09 August 2010
Let us wait for draft GST and there after rules in this regards. I am sure that they are has to be a provision for utilisation of the accumulated credit of the past.
R P Ananthakumar
(Sr. Officer - Central Excise/Cash)
(514 Points)
Replied 12 August 2010
Definitly they will give a provision at the time of introducing GST. All the assesse having the same doubt in this regard. we will wait and see..
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
