If someone has 5% taxabale rate stock as on 30th June and under GST it will be charged at 18%. Can anyone help with the procedure how he can credit of excess tax.
2 Replies
Debashish Sarkar
(Commercial Manager)
(220 Points)
Replied 13 July 2017
This kind of credit is not allowed. However, you can take the credit of Closing stock as on 30.06.2017 as per the calculation provided in the rule.
ashok aggarwal
(21 Points)
Replied 13 July 2017
ITC carried forward as per vat-15 return for the quarter ending 30th.june,2017 will be available under GST as sgst credit.dealer will put up this fig.in GST credit ledger ,I suppose.
Recent Topics
- Income tax calculation formula in excel for fy 202
- Sentinel Glycogen Control Australia
- CREDITNOTE ON GST
- GST INVOICES - NO ACTION - IMS
- Clarity on 26qb filing in case of minor being the
- OLD REGIME AND NEW REGIME.
- TDS deduction on lease internet charges
- Raising invoice by NRI person in Indian INR
- RCM paid under wrong head
- TDS 194 T
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
