excess VAT

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..... excess VAT
Query (Issue) Started By: - THYAGARAJAN KALYANASUNDARAM Dated:- 29-7-2017 Last Reply Date:- 30-7-2017 Goods and Services Tax - GST
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GST
Dear expert, As per sec 140( .....

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..... 1) of GST act says, any excess ITC under the existing regime will be carry forward to GST regime. Whereas under existing regime, we buy the goods locally @14.5% and sells it as interstate trade @2% CS .....

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..... T against form c, so we have huge excess ITC. My query my client having huge excess credit till June 2017, when I'm filing July return under GST regime, whether can I carry forward or apply refun .....

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..... d under existing regime, it is possible? Thanks in advance. Reply By HimansuSekhar Sha: The Reply: You can carry forward the credit as equal to the cb of the last return provided you declare the sa .....

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..... me in tran 1 form and fulfilling other conditions. No refund will be allowed.
Discussion Forum - Knowledge Sharing .....

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