Excise ka invoice jaroori hai 100% ITC lene ke liye, exice ka registeration jaroori nahin hain. Aisa lag raha hain ki the trader excise mein registered nahin hain, eisi halat mein 100% credit nahin milega kintu 60% milega agar excise rate 9% ya adhik hain . Trader ko ek aalag file bana kar sab invoices ka listing banana chaiye or credit le lena chaiye. Is sandarbh me provision hai ki;
(4) (a) (i) A registered person who was not registered under the existing law shall, in accordance with the proviso to sub-section (3) of section 140, be allowed to avail of input tax credit on goods (on which the duty of central excise or, as the case may be, additional duties of customs under sub-section (1) of section 3 of the Customs Tariff Act, 1975, is leviable) held in stock on the appointed day in respect of which he is not in possession of any document evidencing payment of central excise duty.
(ii) Such credit shall be allowed at the rate of sixty per cent. on such goods which attract central tax at the rate of nine per cent. or more and forty per cent. for other goods of the central tax applicable on supply of such goods after the appointed date and shall be credited after the central tax payable on such supply has been paid:
Provided that where integrated tax is paid on such goods, the amount of credit shall be allowed at the rate of thirty per cent. and twenty per cent. respectively of the said tax
(iii) The scheme shall be available for six tax periods from the appointed date.
(b) Such credit of central tax shall be availed subject to satisfying the following conditions, namely,-
(i) such goods were not unconditionally exempt from the whole of the duty of excise specified in the First Schedule to the Central Excise Tariff Act, 1985 or were not nil rated in the said Schedule.
(ii) the document for procurement of such goods is available with the registered person.
(iii) the registered person availing of this scheme and having furnished the details of stock held by him in accordance with the provisions of clause (b) of sub-rule (2) of rule 1, submits a statement in FORM GST TRAN 2 at the end of each of the six tax periods during which the scheme is in operation indicating therein the details of supplies of such goods effected during the tax period.
(iv) the amount of credit allowed shall be credited to the electronic credit ledger of the applicant maintained in FORM GST PMT-2 on the Common Portal.
(v) the stock of goods on which the credit is availed is so stored that it can be easily identified by the registered person.
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