TaxTMI 
TaxTMI 
what will be the treatment for surplus of cenvat, service tax and vat at the time of enactment of gst.
Surplus of cenvat
12 Oct 2009 
2 Replies 
1367 Views Asked by
Input tax credit: expectation that unutilized cenvat, service tax and VAT balances will be allowed under GST.
The question asks whether unutilized cenvat, service tax and VAT balances will be recognised on GST enactment. Replies caution that a definitive position is premature but express the prevailing view that such unutilized balances should be allowed as input tax credit in the GST transition, noting these are advisory opinions rather than authoritative rulings. (AI Summary)
The question asks whether unutilized cenvat, service tax and VAT balances will be recognised on GST enactment. Replies caution that a definitive position is premature but express the prevailing view that such unutilized balances should be allowed as input tax credit in the GST transition, noting these are advisory opinions rather than authoritative rulings. (AI Summary)