RAJA P M ("Do the Right Thing...!!!") (128091 Points)
21 June 2017Dear Experts.,
How to take ITC by A Trader - (Tiles) under GST. He Registered Under STATE VAT Act. He not registered Excise. He is Purchase invoices are following.,
---->> Assesable Value - Rs. 1,00,000
Excise Duty @ 12.5% - Rs. 12,500
State VAT/CST @ 14.5% - 16,313 = Total Rs. 128813.
Which Tax amount ll be taken ITC on GST....
Please reply
sunny chauhan
(58 Points)
Replied 21 June 2017
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 21 June 2017
ITC of Excise & Vat will be available.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 21 June 2017
Thank You for the Reply Dear Experts.,
But, He is not registered Under Excise Duty. Then How is to Take Duty amount...?
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 21 June 2017
If you are in possession of Invoice, the amount may have been shown.
Even if not credit will be available according to the rules.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 21 June 2017
If you are in possession of Invoice, the amount may have been shown.
Even if not credit will be available according to the rules.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 21 June 2017
Thank you Madam.,
The same way A Asseesee Having Stock Rs. 10,00,000 (Approx).
But,
No more ITC available any Taxation.
Then How to treat/shown above stock on GST. If available shown stock only in TRAN 1 Form....?
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 21 June 2017
No more ITC available means?
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 21 June 2017
No more Input Tax in my hand.
But, Only Stock in hand.....?
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