Transitional Credit

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....ransitional Credit<br> Query (Issue) Started By: - saket s Dated:- 12-11-2019 Last Reply Date:- 26-10-2020 Goods and Services Tax - GST<br>Got 1 Reply<br>GST<br>The Company opts for new rates under GS....

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....T for its ongoing projects and there is transitional credit available to the Company ("Tx" is negative) as per notification 3/2019 CTR. What is the treatment of the transitional credit available? Can....

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.... the credit be utilized for subsequent GST payments? Can only new credit be availed to the extent of transitional credit? Thanks Saket Reply By Shilpi Jain: The Reply: The amount of Tx can be ava....

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....iled by way of credit contained in the procurement made from 1st Apr &#39;19. However, its utilisation would be difficult if the assessee does not have any liability other than 5%. If other liabilitie....

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....s are there which do not have credit utilisation restriction, the Tx can be used for that liability.<br> Discussion Forum - Knowledge Sharing ....