closing stock itc detail
This query is : Resolved
29 June 2017
I am a registered vat wholesaler I don't have any proof of exceise duty paid and I don't even know whether the product has excise duty or not. bcoz I buy only from local state and only vat is mentioned in my invoice. am I eligible for claiming credit(ie 60,40 for the respective stock) on the cgst which I pay
29 June 2017
http://blogs.tallysolutions.com/input-credit-closing-stock-gst-transition/
follow the link
follow the link
29 June 2017
is this irrespective of whether exice has been paid or not paid
29 June 2017
the question of excise is for manufacturer and vat is for trader...ok?
29 June 2017
ok. so I am a vat wholesaler so 60or 40% of cgst I pay for the closing stock will be given by the government am I rite
29 June 2017
that depends upon the rate of VAT...... 60/40 is for 18% and above
29 June 2017
yeah.that I know. thank u very much for the clarification
29 June 2017
btw the compensation cess mentioned by the government is it applicable at all level of trade or only at the manufacturing point
29 June 2017
ok. you are most welcome.
29 June 2017
can u also comment abt the cess
29 June 2017
go through the link for the cess
http://www.thehindubusinessline.com/multimedia/archive/03166/GST-compensation-c_3166108a.pdf
http://www.thehindubusinessline.com/multimedia/archive/03166/GST-compensation-c_3166108a.pdf
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- SALE OF AGRICULTURAL LAND SITUATED IN CITY MUNICIPAL LIMITS
- FILLING OF 26QB FOR ONE SELLER AND 2 BUYERS-ONE BUYER REGISTERED AND OTHER ONE NOT REGISTERED
- GST REGISTARTION FOR EVENT MANAGEMENT
- GSTR 9 not file
- Search seizure
- TDS Section 194T for earning of partner
- Exemptions u/s 54 on sale of property
- Clubbing of Wife's Income from FD Investments
- EXEMPTION ON CAPITAL GAIN UNDER SECTION 54F
- How to fill form 26QB for 2 seller and 2 buyers.
- Rectification of 147 order
- Commission from nepal
- Facing Problem to file GSTR-3B
- Conversion of Public Company into Private Company on MCA
- Composition scheme annual return Gstr-4
- SEC 128A Amnesty scheme GST
- Non filing of cmp 08 while it is to be nil filed penality order u/s 125 is done and imposed penality
- Can apply for gst registration on residential
- Total of Deposit Amount as per Challan/Transfer Voucher Number
- Assets related
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert04 February 2025
CAclubindia
