GST for retail pharamacy stores
Abey Mathew Joseph (3 Points)
29 June 2017Abey Mathew Joseph (3 Points)
29 June 2017
Tarak Shah
(Chartered Accoutants)
(105 Points)
Replied 29 June 2017
As per Sec-140, A registered person shall be entitled to take, in his electonic credit ledger, the amount of CENVAT credit carried forward in the return relating the period ending with the day immediately preceding the appointed day, subject to necessary duty paying documents are available. If no such document is available then 60-40 & 30-20 rule will apply.
Further if you registered under sec-10(Composition scheme) in new tax regime,i,e., GST, then no ITC on stcok is eligible.
Abey Mathew Joseph
(3 Points)
Replied 29 June 2017
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"