Vat input under GST

[Arun Aggarwal]

Sir

I am a registered dealer/trader in Delhi in vat.

The firm is not not doing any work from the last one and a half year with nill returns filed with no stocks.

A year before Vat authorities forced to deposit 4 lakh as advance tax , of which I have taken the input credit in my returns.

Now what should i do , surrender the vat no and take the refund, or I migrate to GST taking that input credit.

Can I get the refund of that in GST regime or I have to adjust the same in further sales if any?

Arun

AI Summary

Dealer Contemplates Surrendering VAT Number or Migrating to GST to Retain Input Credit After Forced Advance Tax Payment A registered dealer in Delhi, inactive for over a year with no stock and filing nil returns, was compelled by VAT authorities to deposit 4 lakh as advance tax, which was claimed as input credit. The dealer seeks advice on whether to surrender the VAT number for a refund or migrate to GST while retaining the input credit. They question if a refund is possible under GST or if the credit must be adjusted against future sales. A respondent inquires if the proceedings related to the advance tax are complete, to which the dealer confirms the payment was enforced without further proceedings.