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Tran 1 credit - Goods and Services Tax - GSTExtract Dear Experts, I have a doubt on the Transitional credit. Suppose, if I have VAT credit for Rs.10 crore as on 30th June 2017 because raw materials procured from April to june 2017 for manufacturing of finished products. Later, the finished goods sold within the State by charging SGST and CGST in August 2017 and liable to pay Rs.12 crore under sgst Rs.6 crore and cgst Rs.6 crore. When I have huge credit Rs.10 crore with the State Government, because of Government changed existing regime from vat to Gst. Now, my liability to be discharged under CGST 6 Crore though I m having the credit under SGST. What is the remedy. Please let me know, I have transitional credit issue with the department. Please cite some case laws to come out from this issue. In nutshell, is there concept of interchange adjustment of vat tran credit under cgst. Thanks in advance.
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