https://www.taxtmi.com/article/detailed?id=7579 Input tax credit on opening stock under the GST transitional framework allocates pre GST excise and VAT credits between CGST and SGST based on prior registration, invoice type and stock category (FG, SMG, RM). Cenvat and VAT carry forwards shown in earlier returns are allowable where applicable; excise elements typically convert to CGST credit and VAT elements to SGST credit, while certain purchases yield deemed credits or nil CGST entitlement. Capital goods credits are subject to permissibility under both previous law and GST, with unclaimed balances potentially carried forward. en-us Mon, 28 Aug 2017 12:51:22 +0530 Mon, 28 Aug 2017 12:51:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7579 Input tax credit on opening stock under the GST transitional framework allocates pre GST excise and VAT credits between CGST and SGST based on prior registration, invoice type and stock category (FG, SMG, RM). Cenvat and VAT carry forwards shown in earlier returns are allowable where applicable; excise elements typically convert to CGST credit and VAT elements to SGST credit, while certain purchases yield deemed credits or nil CGST entitlement. Capital goods credits are subject to permissibility under both previous law and GST, with unclaimed balances potentially carried forward. Articles Goods and Services Tax - GST Mon, 28 Aug 2017 12:51:22 +0530 https://www.taxtmi.com/article/detailed?id=7579