transitional credit and anti profiteering

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..... transitional credit and anti profiteering
Query (Issue) Started By: - giri gattupalli Dated:- 14-8-2022 Last Reply Date:- 20-8-2022 Goods and Services Tax - GST
Got 5 Replies
GST
respected sir , whether transitional credit claimed and availed on the stock held on july-2017 to be passed to costumers under anti -profiteering rules or not if yes then what is the benefit for taxable per .....

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..... son in claiming trasitional credit .please discuss thanking you Reply By Ganeshan Kalyani: The Reply: Sir, the credit is eligible to offset it against the GST payable on those stocks when supplied. The incidence of tax is passed on thereby. Reply By KASTURI SETHI: The Reply: I concur with the views of Sh.Ganeshan Kalyani Ji. Reply By giri gattupalli: The Reply: thank you for sharing your va .....

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..... luable opinions Reply By KASTURI SETHI: The Reply: For more details, you must see the Order dated 6.7.22 passed by National Anti-Profiteering Authority in the case of Sh.Promod Agarwal & M/s.Arihant Superstructures Ltd.(2022 (7) TMI 698 - NATIONAL ANTI-PROFITEERING AUTHORITY) Reply By Amit Agrawal: The Reply: If you have carried forward tax-credit from old regime to new regime, anti-profiteeri .....

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..... ng provisions will not apply. However, if you got 'additional' tax-credit under transitionary provisions or due to provisions of new regime anti-profiteering provisions will come into picture. These are ex facie views of mine and the same should not be construed as professional advice / suggestion.
Discussion Forum - Knowledge Sharing .....

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