C/f of Gujarat VAT on closing stock to GST in Trans - 1

[MAHENDRABHAI DESAI]

Dear Sir,

With reference to GST provision, please advice how to carry forward Gujarat VAT credit on closing stock as on 30.6.17 in GST in Trans - 1.

Thanks

[Ganeshan Kalyani]

1) the amount shown as carry forward in the VAT return of June 2017 month is required to be disclosed in TRAN 1.

2) material purchased in the month of June 2017 but the same has been actually received in the month of July 2017. This detail also to be disclosed in TRAN 1.

Both the amount will be credited your credit ledger after filing of TRAN 1.

 

[KASTURI SETHI]

VAT return is legal documentary proof for TRANS-1.

[DR.MARIAPPAN GOVINDARAJAN]

It is also to be noted that the transferred in TRAN - 1 are eligible under GST provisions.

AI Summary

Carryforward of VAT credit requires disclosure in TRAN-1 to enable GST credit ledger update after filing. The amount carried forward in the June VAT return and purchases invoiced in June but received in July must be disclosed in TRAN-1; these disclosed amounts will be credited to the GST credit ledger after filing TRAN-1, and the VAT return serves as documentary proof for the TRAN-1 entries.