Tran 1 credit

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..... 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 h .....

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..... uge 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 o .....

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..... f interchange adjustment of vat tran credit under cgst. Thanks in advance. - Reply By Amit Agrawal - The Reply = There is no concept of using VAT credit under transition for paying CGST under GST. I am not sure how you managed to do that as GST portal should not have allowed you to the same. Can you please elaborate what / how is it happened (i.e. how so you manage to use VAT TRANS-1 cre .....

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..... dit for paying CGST?) and what is the transitional credit dispute? These are ex facie views of mine and the same should not be construed as professional advice / suggestion - Reply By Shilpi Jain - The Reply = The transitional credit of VAT was transitioned by you into GST as SGST Credit or CGST And SGST? Looks like further clarity on facts required. - Tran 1 credit - Query Started By: .....

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..... - THYAGARAJAN KALYANASUNDARAM Dated:- 7-6-2023 Goods and Services Tax - GST - Got 2 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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