Credit of 40% on transitional stocj
This query is : Resolved
24 May 2017
can we take cgst credit of 40% on transitional stock which supplied by ssi unit or sez enjoying excise exemption.
24 May 2017
You can't take as invoice for payment of central excise is required.
24 May 2017
sir since invoice is not there thats why we are going for 40%.
24 May 2017
The query is since excise is not suffered hence can we take excise on presumptive basis.
24 May 2017
Since excise not suffered you can't take excise credit on presumptive basis. Evidence for purchase is required, only duty paid documents is not insisted,
24 May 2017
Documents evidencing purchase are required. Only if document does not evidence payment of excise duty credit shall be allowed.
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