Dear Sir,
I have one doubt with regard to transitional claim under GST. We have two types of stock of jewellery, one is Directly purchased from supplier and another one is remaked/ manufactured by us. We have already paid excise duty on remaked gold jewllery lying as on 30-06-2017. for that stock now we have to pay 3% gst while selling the same.So total Taxes would be 4% on remaked items. Hence we shall get 1% loss.
So whether we can avail the duty paid so earlier as ITC under GST Transitional Provisions. You advice is solicited.
thanks in advance.