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The registered person will not be able to carry forward the excess ITC of VAT to GST

The registered person will not be able to carry forward the excess ITC of VAT to GST :

A registered person has excess ITC of Rs 10, 000/- in his last VAT return for the period immediately preceding the appointed day. Under GST he opts for composition scheme. Can he carry forward the aforesaid excess ITC to GST?

Ans. The registered person will not be able to carry forward the excess ITC of VAT to GST if he opts for composition scheme – Section 140(1).

GST-Goods and Service Tax | Rishi Banshal |

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