GST Tip – 60

As per the transitional provisions in GST, Central Excise and Service Tax Credit will be carried forward as CGST Credit, Value Added Tax Credit will be carried forward as SGST Credit in the electronic credit ledger based on the input tax credit shown in the returns filed immediately prior to the appointed day.

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GST Tip – 59

As per the transitional provisions, existing input tax credit under Central Excise, Service Tax and Value Added Tax is available is carried forward to GST if the same credit is taken in the books and part of the return filed before the date of rollout of GST and the same is available under GST also as input tax credit.