26 May 2017
My question related to excise input credit being unregistered dealer under central excise. I am vat registered dealer, but not registered under central excise. We resale the material to retailers.
My questions are:-
1. We buy some material from manufacturer (with excise exempt unit) from other state.
Can we take CGST credit of 40% on transitional stock which supplied by ssi unit or sez enjoying excise exemption?
2. We buy some material from importers. They give us invoice with only 2% CST shown. Can we take CGST credit of CVD & SAD on transitional stock which supplied by importers.
3. We buy the excisable goods from the authorized dealer /distributor of some manufacturer who is also unregistered dealer under central excise. Producer give them Invoice as per central excise rule Basic + excise + cst/vat, but distributor sell the material to us at price including excise (without any indication of excise amount) + vat.
My question, how to avail input tax credit for the closing stock on account of excise already been paid but no value shown as bought from distributor under vat invoice.
CAclubindia
