VENKATESH M
(MANAGER - DIRECT & INDIRECT TAXATION)
(75 Points)
Replied 21 June 2017
if you are not registered under excise.
you cannot claim credit
you cannot file returns
excise invoice received shall be a cost to the Trader/Manufacturer
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 21 June 2017
| Originally posted by : VENKATESH M | ||
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if you are not registered under excise. you cannot claim credit you cannot file returns excise invoice received shall be a cost to the Trader/Manufacturer |
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Under transition provision of GST act. Trader can avail credit of VAT/Excise payable even if not having documentory evidence.
However, credit can be availed as follows:
Duty rate is < 9% = 60% of credit
Duty rate is >9% = 40% of credit.
[for only those who are not required to register under old Law but now has to register it self and credit allowed on stocks which is held as on 01.07.2017]
VENKATESH M
(MANAGER - DIRECT & INDIRECT TAXATION)
(75 Points)
Replied 21 June 2017
he has not mentioned under GST i replied under existing rules
Nirmal
(Accounts Officer)
(31 Points)
Replied 21 June 2017
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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