excess VAT
Query (Issue) Started By: – THYAGARAJAN KALYANASUNDARAM Dated:- 29-7-2017 Last Reply Date:- 30-7-2017 Goods and Services Tax – GST
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GST
Dear expert,
\nAs per sec 140(1) of GST act says, any excess ITC under the existing regime will be carry forward to GST regime. Whereas under existing regime, we buy the goods locally @14.5% and sells it as interstate trade @2% CST against form c, so we have huge excess ITC.
\nMy query my client having huge excess credit till Jun<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" excess VAT Query (Issue) Started By: – THYAGARAJAN KALYANASUNDARAM Dated:- 29-7-2017 Last Reply Date:- 30-7-2017 Goods and Services Tax – GSTGot 1 ReplyGSTDear expert, As per sec 140(1) of GST act says, any excess ITC under the existing regime will be carry forward to GST regime. Whereas under existing regime, we buy the goods locally … Continue reading “excess VAT”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-6653","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/6653","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=6653"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/6653\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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