Itc on closing stock
This query is : Resolved
27 June 2017
Dear Sir,
We are manufacturer , our product is exempt from excise in current tax law So we dont take credit of excise and Service tax on input used , we used to pay only VAT on our finished product but now our finished product is subject to GST . Can we get credit of excise and service tax too with ITC of VAT on closing on date of GST implementation
We are manufacturer , our product is exempt from excise in current tax law So we dont take credit of excise and Service tax on input used , we used to pay only VAT on our finished product but now our finished product is subject to GST . Can we get credit of excise and service tax too with ITC of VAT on closing on date of GST implementation
27 June 2017
Yes you Can get credit of excise and service tax too with ITC of VAT on closing on date of GST implementation. Invoice documentary evidence required.
27 February 2018
Sir based on your advise I took the credit of excise duty on closing stock to be used in taxable finished goods but department asking me to show notification. Sir pls provide me the notification no regarding this.
27 February 2018
See the link.
https://www.google.co.in/url?sa=t&source=web&rct=j&url=http://www.cbec.gov.in/htdocs-cbec/gst/eflier-transition-provisions14062017.pdf&ved=2ahUKEwiuopmd_cXZAhWJlJQKHaEFCPkQFjABegQICBAB&usg=AOvVaw3JkHSsVsoeYvGYgI8PJPJo
https://www.google.co.in/url?sa=t&source=web&rct=j&url=http://www.cbec.gov.in/htdocs-cbec/gst/eflier-transition-provisions14062017.pdf&ved=2ahUKEwiuopmd_cXZAhWJlJQKHaEFCPkQFjABegQICBAB&usg=AOvVaw3JkHSsVsoeYvGYgI8PJPJo
27 February 2018
Statutory provisions relating to transition are contained in chapter XX (section 139 to 142) of the GST law and the transition rules available at department website www.cbec.gov.in may be referred.
07 March 2018
Dear Sir,. We have failed to file our GSTR-1 for July due to some technical problem . Later on we filed our other GSTR-1 for August onward . Now the problem in GSTR-1 for july have resolved and we are trying to file it but when we are attempting to Upload the JSON created through latest offline toll 2.2.1 , it is not getting uploaded and a massgae coming that '' Download the latest version of offline toll'' atlhough the toll that we using is latest .
Pls advise what to do??
Pls advise what to do??
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