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Credit of 40% on transitional stocj

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(Querist)
24 May 2017 can we take cgst credit of 40% on transitional stock which supplied by ssi unit or sez enjoying excise exemption.
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CA R SEETHARAMAN online

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CA R SEETHARAMAN online (Expert)
24 May 2017 You can't take as invoice for payment of central excise is required.
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Avijit Saha

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Avijit Saha (Querist)
24 May 2017 sir since invoice is not there thats why we are going for 40%.
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Avijit Saha

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Avijit Saha (Querist)
24 May 2017 The query is since excise is not suffered hence can we take excise on presumptive basis.
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CA R SEETHARAMAN online

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CA R SEETHARAMAN online (Expert)
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,
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Studentsca

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Studentsca (Expert)
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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