Menu
transition rules
suppose if a person has VAT invoice will he be able to claim the 100% of the VAT amount and as he does not have the Excise duty paid invoice and he has suffered the ED on the same so he can have that much amount 40% by proving through other document?
Replies (5)
Yes...exactly. He can claim only upto 40% of credit
so he will be claiming 40% for ED and 100% for VAT
Yes... Conceptually
suppose one more scenario if I had purchased a material interstate which was charged with CST earlier I could not take the credit for that
but now in get transition rule if I on submitting the invoices of CST charged can I take the 40% credit ??
but now in get transition rule if I on submitting the invoices of CST charged can I take the 40% credit ??
As earlier also you were not able to take the credit of CST so here in this case also credit pertaining to GST may also not get passed on. As far as the credit of excise duty involved if the dealer is registered under excise than he can take the credit fully by showing all the docs and if he is not registered in that case dealer can take the credit upto 40% only.
Recent Topics :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
