Input credit eligibility.
This query is : Open
CA Altamush Zafar
(Expert)
01 August 2017
Yes it is. As per CENVAT Credit Rules it is eligible duty therefore it can be carried forward.
02 August 2017
Agree with above view. However KKC credit not available for invoice received after 30 June. Also, dept is of the view that KKC credit is not available. But as said in above ones it is valid CENVAT you can carry forward in GST
03 August 2017
But it is not covered under Eligible duty as per sec 140 Explanation 2.
CA Altamush Zafar
(Expert)
03 August 2017
Have you already taken KKC credits in your returns?
07 August 2017
obviously we will file April-June return normally and will show KKC return in closing balance if there.
CA Altamush Zafar
(Expert)
07 August 2017
Then 140(1) will become applicable and there CENVAT Credit is mentioned and not eligible duties.
To explain this I asked you that question. It is pretty obvious that you would have taken the credits.
CA Altamush Zafar
(Expert)
07 August 2017
CENVAT credit includes kkc and you can transfer the credits to input credit register as cgst credits
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