Input credit of excise duty thro tran 1 on closing stock
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 December 2017
Sir
We are a manufacturing company dealing with non excisable goods but registered under VAT. As on 30-06-2017, we are having some closing for which we have paid Excise duty. In previous regime we are not taking ITC for it. But now please confirm whether we can take ITC under CGST thro TRAN 01.
We are a manufacturing company dealing with non excisable goods but registered under VAT. As on 30-06-2017, we are having some closing for which we have paid Excise duty. In previous regime we are not taking ITC for it. But now please confirm whether we can take ITC under CGST thro TRAN 01.
13 December 2017
Yes, you can credit on stocks held as on 30.06.2017 providing all the details of stock and purchases.
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