Dealer -not a manufacturer- credit of cen-vat paid on goods

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

29 November 2016 respected sir
it is made clear in revised gst draft act that ,first stage or second statage dealer (not manufacturer ) can get credit of cen-vat paid goods which are held in stock on 01-04-2017 . please discuss the issue

CA Suresh Jain

CA Suresh Jain (Expert)
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02 December 2016 Yes, they will be allowed Input credit on the Goods lying in stock. Can you please let me know your specific query

Querist : Anonymous

Querist : Anonymous (Querist)

03 December 2016 thank you sir. my specific question is whether, a retailer who deales in iron &steel (central exice duly suffered at the point of manufacturing ) and purchases covered by vat invoice , (not exice invoice ) can claim cenvat credit along with vat credit on the stock held on 01-04-2017. please discuss

CA Suresh Jain

CA Suresh Jain (Expert)
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03 December 2016 Yes, but rules are not yet very clear. It is for sure that you will have to have the invoice which shows the amount of excise duty and VAT charged and paid

Querist : Anonymous

Querist : Anonymous (Querist)

03 December 2016 thank you for yor kind reply

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2017 now the cgst rools are out .what is the position of goods held in stock on appointed day .