Ravi (Finance head) (28 Points)
28 June 2017We are having a distillery unit for producing ENA (alcohol) from grains
the existing laws of VAT & EXCISE will continue for alcohol products, it seems
are we require to register under GST
we deal with raw materials, coal and rice which are under GST and our biproducts sale (flyash, CO2 and DDGS) are
also under GST
Also, are we eligibile to take input credit on plant and machinery we purchase (capital inputs) What about ED paid on input purchases of capital goods
please advise
pankaj
(CA Job)
(22 Points)
Replied 06 July 2017
It is Doutfull that State excise & VAT will be Applicable on ENA.I am Also working in Distillery. It will fall under GST, we will get notification from GST soon.Tell me whether DDGS is exempt or taxable @ 5%.
If ENA comes under the review of GST, then we will be able to take GST input on capital goods & Raw Materials.
CAclubindia
