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VAT input tax credit in GST, Goods and Services Tax - GST |
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VAT input tax credit in GST |
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What will the input tax credit in GST (18%) for VAT @5% ???? e.g. ₹10000/- paid VAT is on books for purchase of 2 lacs...now if sale is made of 2 lacs , GST wil be @15 % = ₹36000/- How much tax should be deposited ?????? Posts / Replies Showing Replies 1 to 5 of 5 Records Page: 1
Vat will be entered in tran 1 so that it will be available as sgst credit.
VAT credit of ₹ 10 k will be eligible to you to set off against GST liability.
Yes, as said by Sri Himansu Ji VAT credit will be allowed to set off against SGST liability.
Thank you sir
Means It will adjusted only in SGST not in IGST ???? Page: 1 Old Query - New Comments are closed. |
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