TaxTMI 
TaxTMI 
Respected Sir,
As regarding above subject, my query is whatever would be the closing balance of cenvat & vat A/c on 30-06-17, would it be considered as opening balance of CGST & SGST ON 01-07-17.Please reply.
Closing balance of cenvat A/c & Vat A/c
26 Jun 2017 
2 Replies 
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Transfer of pre GST CENVAT and VAT balances into input tax credit ledgers allowed subject to admissibility and return compliance.
Section 140(1) and (2) permits a registered person, other than one under the composition scheme, to transfer CENVAT and VAT credit shown in returns for the period ending before the appointed day into the electronic credit ledger as input tax credit, subject to admissibility under GST, furnishing of all returns for the six months immediately preceding the appointed day, and exclusion of credits relating to supplies cleared under exemption notifications; unavailed CENVAT on capital goods may be taken only if admissible under both the existing law and GST. (AI Summary)
Section 140(1) and (2) permits a registered person, other than one under the composition scheme, to transfer CENVAT and VAT credit shown in returns for the period ending before the appointed day into the electronic credit ledger as input tax credit, subject to admissibility under GST, furnishing of all returns for the six months immediately preceding the appointed day, and exclusion of credits relating to supplies cleared under exemption notifications; unavailed CENVAT on capital goods may be taken only if admissible under both the existing law and GST. (AI Summary)