Difference between Transition credit and Transition Rules under GST terms

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How to differentiate Transition Rules with Transition credit?

What is Transition Rules? How does Transition credit work under GST regime? What are the difference between Transition Rules and Transition credit?

Under GST system, the following information explains about Transition Rules and Transition credit.

The key to the success of GST would be when all present tax payers comfortably migrate to GST so that they can continue their businesses without any difficulty. The transition should    also enable all to start on a level playing field. In the present act and rules there are a couple of aberrations which treat hitherto exempted manufacturers or taxable and exempted product manufacturers unfairly and unequally

Transition credit means balance of input tax credit under Pre-GST Regime to carry for the purpose of setoff against the GST Liability in GST Regime.

The details about Transition Rules and Transition credit with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Transition Rules and Transition credit, so as to enable you to have a clear idea on these GST terms.

For your immediate reference, we give below web links on Transition Rules and Transition credit separately below.  You may kindly read the below links to know more about Transition credit and Transition Rules.  

GST Transition Rules Means

Term Transition credit under GST

The above information easily explains about Transition credit and Transition Rules.

We hope, you have satisfied with the difference between Transition Rules and Transition credit explained above. Do you have different thought on difference between Transition credit and Transition Rules?

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