Under service tax provisions, it is provided that where payment to supplier of service is not made within three months of provision of service, Credit of such service tax required to be reversed and it could be reclaimed…
Where a registered person having centralised registration under the existing law has obtained a registration under this Act, such person shall be allowed to take, in his electronic credit ledger, credit of the amount of CENVAT credit carried…
GST Law has provided Transitional provisions in respect of Input Tax Credits where dealer was paying taxes at a fixed rate or a fixed amount as a Central tax and /or State VAT/ Sales Tax (i.e. he might…
A big question in everyone’s mind is that what will the treatment of input tax credits, where seller of goods or provider of services has issued invoice before 30.06.2017 under previous laws (i.e. under excise duty, State VAT…
Input tax credits of Excise Duties Where a registered person under GST, who was engaged in the: manufacture of taxable as well as exempted goods under the Central Excise Act, 1944; or provision of taxable as well as…
The objective of this provision is to provide benefit of Input Tax Credits paid under State VAT laws to dealer (registered under GST), on stock in hand as on 01.07.2017 (which is liable to tax under GST), where…
Yes, it is true that a person registered under GST laws shall be entitled to take credit of eligible duties even if he was not registered under earlier laws and not filed any return under existing law. The objective of…
This article relates to Unutilized balance of VAT Credit (under UT VAT laws) standing on 30.06.2017. A registered person under GST (other than those who opt to pay GST under Composition Levy) shall be entitled to take the…
This article relates to Unutilized balance of VAT Credit (under State VAT laws) standing on 30.06.2017. A registered person under existing State laws will be allowed to take ‘State VAT credit’ carried forward in the return (under existing…
In this article, we are going to discuss the transitional provisions under GST acts (CGST, SGST and UTGST) regarding input tax credits of capital goods unavailed as on 30.06.2017. Concept of this transitional provision is same in all…
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