Question ID : 41122

REPORTING IN GSTR 1

01. IN CASE OF SALE OF FLATS ADVANCE RECEIVED DURING VAT REGIME AND TAX PAID UNDER VAT REGIME FOR WHICH INVOICE ISSUED WHEN FLAT IS SOLD DURING GST REGIME. WHERE THE SALES TO BE DECLARED UNDER EXEMPTED OR NON GST SUPPLIES IN GSTR 1?? PLEASE CLARIFY.

Answer ID : 81228

Based on facts it seems that VAT was paid on advance but invoice raised on or after 1.07.17 and therefore as per the provision of section 142(12)(c) you can entitled to take credit of VAT paid to the extent supply made after the appointed day and such credit shall be calculated as per rule118 of CGST rules 2017. as you have raised invoice after 30.06.17 and therefore its taxable supply and you can take credit of tax paid as above if you have filed trans-1.

Answer ID : 81252

Central Goods and Services Tax or CGST is levied by the Central Government and is applicable on all intra-state supplies of goods and services, governed by the CGST Act

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