Transition credit and Reverse Charge

How to differentiate Reverse Charge with Transition credit?

Difference between Transition credit and Reverse Charge under GST terms

 

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

 

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

 

As per GST terms “Reverse charge” means the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both under sub- section (3) or sub-section (4) of section 9, or under sub-section (3) or sub-section (4) of section 5 of the Integrated Goods and Services Tax Act.  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 Reverse Charge and Transition credit with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Reverse Charge 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 Reverse Charge and Transition credit separately below.  You may kindly read the below links to know more about Transition credit and Reverse Charge.  

 

Reverse Charge Mechanism  under GST

Term Transition credit under GST

 

The above information easily explains about Transition credit and Reverse Charge.

 

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

 

Share below your thoughts about Reverse Charge and Transition credit

 

 

 

Learn Exports Imports Free, Click here

Click here to know GST rate of your goods or service

CGST Act section 12 Time of supply of goods

CGST Act section 13 Time of supply of services

CGST Act Section 14 Change in rate of tax in respect of supply of goods or services

CGST Act Section 15 value of taxable supply under GST

CGST Act section 16 eligibility and conditions for taking input tax credit

CGST Act Section 17 Apportionment of credit and blocked credits

CGST Act section 18 availability of credit in special circumstances

CGST Act Section 19 Taking input tax credit on capital goods sent for job work

CGST Act section 20 Manner of distribution of credit by Input Service Distributor

CGST Act section 21 Import of services made on or after the appointed day

CGST Act section 22 Persons liable for registration

CGST Act section 23 Persons not liable for registration

CGST Act section 24 Compulsory registration in certain cases

CGST Act Section 25 Procedure for registration

Term Provisional Identification Number(PID)under GST

 

Term provisional assessment under GST

 

Migration of existing taxpayers under GST

 How does CFR term of delivery work in Export Import business

How does comprehensive policy of ECGC work for exporters?

 Top 137 Airline names and their websites worldwide

Toxic Substances control Act (TSCA) certification

 How to minimize import cargo clearance time? An open logic proposal to WTO

How to obtain a duplicate BL, if original bill of lading lost.

How to obtain GSP - Certificate of Origin?

How to export from Burkina Faso?

 

How to Import to Burkina Faso?

 

How to import to India from Burkina Faso?

 


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers