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Proposed scheme of transferring credit from pre-GST regime to post-GST regime.

Goods and Service Tax - GST - By: - CA Akash Phophalia - Dated:- 1-9-2015 - This article is prepared to know about the proposed scheme of availing unutilized credit available with the assessee in pre-GST regime. The article also deals with the fate o .....

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lation to input credit provision. Possible methods which the Govt may adopt w.r.t to credit transition stocks could be as under: Fully allow deduction/refunds/carry forwards Fully deny deduction/refunds/carry forwards (of certain restricted goods) Fu .....

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ee registered in pre-GST regime Assessee not registered in pre-GST regime Credit of Input Goods Must be allowed to carry forward the tax paid in pre-GST regime on eligible inputs Provided the amount is rightly availed and carried forward in returns, .....

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cation of such inputs and transfer of credits. Burden of proof would be on claimant. Purchase invoice along with appropriate stock records duly certified by CA may be asked. Credit of Semi Finished and Finished goods lying in stock Credit on input go .....

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