Clearance of stock of 30th june 2017 by 31st december 2017
This query is : Open
06 December 2017
Respected All,
we are trader, and importing goods from china. we have taken credit of excise as on 30th June 2017 by filing tran-1. My question is whether we have to sale goods by 31st December 2017 whose credit is taken by us in tran-1?
we are trader, and importing goods from china. we have taken credit of excise as on 30th June 2017 by filing tran-1. My question is whether we have to sale goods by 31st December 2017 whose credit is taken by us in tran-1?
Guest
Guest
(Expert)
07 December 2017
If you have taken deemed credit (i.e non availability of tax paid documents) on such imported stock then in such case you are required to sell the stock by 31-12-2017.
07 December 2017
we have original bill of entry regarding same. it is not the case of deemed credit, then what to do
Guest
Guest
(Expert)
07 December 2017
If it is not the case of deemed credit then in such case there is no time limit provided such inputs are used for making taxable supplies.
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