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closing stock itc detail

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29 June 2017 I am a registered vat wholesaler I don't have any proof of exceise duty paid and I don't even know whether the product has excise duty or not. bcoz I buy only from local state and only vat is mentioned in my invoice. am I eligible for claiming credit(ie 60,40 for the respective stock) on the cgst which I pay

29 June 2017 http://blogs.tallysolutions.com/input-credit-closing-stock-gst-transition/

follow the link

29 June 2017 is this irrespective of whether exice has been paid or not paid




29 June 2017 the question of excise is for manufacturer and vat is for trader...ok?

29 June 2017 ok. so I am a vat wholesaler so 60or 40% of cgst I pay for the closing stock will be given by the government am I rite

29 June 2017 that depends upon the rate of VAT...... 60/40 is for 18% and above

29 June 2017 yeah.that I know. thank u very much for the clarification

29 June 2017 btw the compensation cess mentioned by the government is it applicable at all level of trade or only at the manufacturing point




29 June 2017 ok. you are most welcome.

29 June 2017 can u also comment abt the cess

29 June 2017 go through the link for the cess

http://www.thehindubusinessline.com/multimedia/archive/03166/GST-compensation-c_3166108a.pdf



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