Lekhu Nyoliwala
(92 Points)
Replied 28 May 2017
Vinay
(Accountant)
(40 Points)
Replied 29 May 2017
CA PRATIK DHRUVE
(CHARTERED ACCOUNTANT)
(634 Points)
Replied 29 May 2017
No credit would be available for goods prior to that earlier period. and no penalty provisions as such..
Vinay
(Accountant)
(40 Points)
Replied 29 May 2017
CA PRATIK DHRUVE
(CHARTERED ACCOUNTANT)
(634 Points)
Replied 29 May 2017
there are different rules for capital goods and other goods lying in stock... please specify your query..
CA PRATIK DHRUVE
(CHARTERED ACCOUNTANT)
(634 Points)
Replied 29 May 2017
you can surely take the cenvat credit on goods lying in stock, but it is subject to certain conditions. Refer to rules of ITC..
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