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Home Acts & Rules GST Draft-Bills-Reports FAQ on GST dated 21.9.2016 based on Draft Model GST Chapters List Chapter 24 Transitional Provisions This

Question 3 - VAT credit was not available on items 'X' & 'Y' as capital goods in the earlier law. Since they are covered in GST, can the registered taxable person claim it now? - FAQ on GST dated 21.9.2016 based on Draft Model GST

FAQ on GST dated 21.9.2016 based on Draft Model GST
Chapter 24
Transitional Provisions
  • Contents

Q 3. VAT credit was not available on items 'X' & 'Y' as capital goods in the earlier law. Since they are covered in GST, can the registered taxable person claim it now?

Ans. He shall be entitled to credit only when ITC on such goods were admissible under the earlier law and is also admissible in GST. Since on the two items credit was not available under the earlier law, the said person cannot claim it in GST – proviso to section 144(1).

 
 
 
 

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