Transitional Credit

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..... The Company opts for new rates under GST for its ongoing projects and there is transitional credit available to the Company ( Tx is negative) as per notification 3/2019 CTR . What is the treatment o .....

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..... f the transitional credit available? Can the credit be utilized for subsequent GST payments? Can only new credit be availed to the extent of transitional credit? Thanks Saket - Reply By .....

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..... Shilpi Jain - The Reply = The amount of Tx can be availed by way of credit contained in the procurement made from 1st Apr '19. However, its utilisation would be difficult if the assessee does not .....

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..... have any liability other than 5%. If other liabilities are there which do not have credit utilisation restriction, the Tx can be used for that liability. - Transitional Credit - Query Started By: - .....

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..... saket s Dated:- 12-11-2019 Goods and Services Tax - GST - Got 1 Reply - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementind .....

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..... ia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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