Carry forward of input credit
Query (Issue) Started By: – arun aggarwal Dated:- 23-4-2017 Last Reply Date:- 25-4-2017 Goods and Services Tax – GST
Got 10 Replies
GST
Sir
\nI am a registered dealer and buying goods after paying vat of 13.5% locally and selling them on CST at the rate of 2%, and without claiming any refund adjusting the same in the other trading.
\nWant to know that what will be the status of any input credit left with me when GST takes over and I will have no stocks but input credit
\nArun
\nReply By KASTURI SETHI:
\nThe Reply:
\nStill so many rules are at draft stage. Picture will be clear only after finalisation of all GST Rules.
\nReply By MARIAPPAN GOVINDARAJAN:
\nThe Reply:
\nOnly Telengana State has passed the SGST B<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n carried. At present it is wild guess and ray of hope in favour of assessees. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Carry forward of input credit Query (Issue) Started By: – arun aggarwal Dated:- 23-4-2017 Last Reply Date:- 25-4-2017 Goods and Services Tax – GSTGot 10 RepliesGSTSir I am a registered dealer and buying goods after paying vat of 13.5% locally and selling them on CST at the rate of 2%, and without claiming any refund … Continue reading “Carry forward of input credit”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-3305","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3305"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3305\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nReply By Govind Gupta:
\nThe Reply:
\nHi Arun, you are saying that what happens to the credit for goods which are not with you, i am not sure if i have understood your question correctly.
\nReply By KASTURI SETHI:
\nThe Reply:
\nDear Querist,
\n Sh.Govind Gupta has rightly raised query. How the balance of cenvat credit would be in your Cenvat Account without physical stock on the appointed day ? Pl. clarify your query.
\nReply By arun aggarwal:
\nThe Reply:
\nSir
\nI am referring to the case of vat and cst , where I buy goods locally after paying vat of 13.5% and selling them to the other state on 2% cst . So I have vat input left with me local vat – cst so no physical stock<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n