Introduction: This article presents a matrix about how to claim input tax credit on opening stock as per transitional provisions u/s 140 of CGST Act, 2017 in respect of various type of situations.
Matrix of Input Tax Credit on opening stock in Transitional Provision as per section 140 of CGST Act, 2017:
|
In case of a Excise and VAT Registered Manufacturer |
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|
S. No. |
Type of Purchase |
Section |
Stock |
CGST Credit Amount |
Section |
Stock |
SGST Credit Amount |
|
i) |
Excise plus Vat Invoice |
140(1) |
FG, SMG, RM |
Cenvat C/f as per Return of Excise |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat returns |
|
ii) |
Excise plus CST Invoice |
140(1) |
FG, SMG, RM |
Cenvat C/f as per Return of Excise |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat returns |
|
iii) |
Excise plus Sales tax exempt Invoice |
140(1) |
FG, SMG, RM |
Cenvat C/f as per Return of Excise |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat returns |
|
iv) |
Import Invoice |
140(1) |
FG, SMG, RM |
Cenvat C/f as per Return of Excise |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat returns |
|
v) |
Non Excise plus Vat Invoice |
140(1) |
FG, SMG, RM |
Cenvat C/f as per Return of Excise |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat returns |
|
vi) |
Non Excise plus CST Invoice |
140(1) |
FG, SMG, RM |
Cenvat C/f as per Return of Excise |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat returns |
|
vii) |
Kaccha Bill or No Invoice |
140(1) |
FG, SMG, RM |
Cenvat C/f as per Return of Excise |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat returns |
|
viii) |
Credit of Excise and VAT on Capital Goods |
140(2) |
Balance unclaimed can be C/f if permissible under both the existing law & GST law |
140(2) |
Balance unclaimed can be C/f if permissible under both the existing law & GST law |
||
|
In case of a Manufacturer Unregistered in Excise but Registered in VAT |
|||||||
|
S. No. |
Type of Purchase |
Section |
Stock |
CGST Credit Amount |
Section |
Stock |
SGST Credit Amount |
|
i) |
Excise plus Vat Invoice |
140(3) |
FG, SMG, RM |
100% of Excise in Bill as CGST |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat Returns |
|
ii) |
Excise plus CST Invoice |
140(3) |
FG, SMG, RM |
100% of Excise in Bill as CGST |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat Returns |
|
iii) |
Excise plus Sales tax exempt Invoice |
140(3) |
FG, SMG, RM |
100% of Excise in Bill as CGST |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat Returns |
|
iv) |
Import Invoice |
140(3) |
FG, SMG, RM |
100% of Excise & SAD in BOE as CGST |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat returns |
|
v) |
Non Excise plus Vat Invoice |
140(3) |
FG, SMG, RM |
NIL |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat Returns |
|
vi) |
Non Excise plus CST Invoice |
140(3) |
FG, SMG, RM |
NIL |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat Returns |
|
vii) |
Kaccha Bill or No Invoice |
140(3) |
FG, SMG, RM |
NIL |
140(1) |
FG, SMG, RM |
Vat C/f as per Vat Returns |
|
viii) |
Credit of Excise and VAT on Capital Goods |
NA |
NIL |
140(2) |
Balance unclaimed can be C/f |
||
|
In case of a Importer Trader, FSD or SSD registered in Excise and Vat |
||||||||
|
S. No. |
Type of Purchase |
Section |
Stock |
CGST Credit Amount |
Section |
Stock |
SGST Credit Amount |
|
|
i) |
Import Invoice |
140(3) |
FG |
100% of Excise & SAD in BOE as CGST |
140(1) |
FG |
Vat C/f as per Vat returns |
|
|
ii) |
Excise plus Vat Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
|
iii) |
Excise plus CST Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
|
iv) |
Excise plus Sales tax exempt Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
|
v) |
Non Excise plus Vat Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
vi) |
Non Excise plus CST Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
vii) |
Kaccha Bill or No Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
viii) |
Credit of Excise and VAT on Capital Goods |
NA |
NIL |
140(2) |
Balance unclaimed can be C/f |
|||
|
In case of a Importer Trader unregistered in Excise but registered in Vat |
||||||||
|
S. No. |
Type of Purchase |
Section |
Stock |
CGST Credit Amount |
Section |
Stock |
SGST Credit Amount |
|
|
i) |
Import Invoice |
140(3) |
FG |
100% of Excise & SAD in BOE as CGST |
140(1) |
FG |
Vat C/f as per Vat returns |
|
|
ii) |
Excise plus Vat Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
|
iii) |
Excise plus CST Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
|
iv) |
Excise plus Sales tax exempt Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
|
v) |
Non Excise plus Vat Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
vi) |
Non Excise plus CST Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
vii) |
Kaccha Bill or No Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
viii) |
Credit of Excise and VAT on Capital Goods |
NA |
NIL |
140(2) |
Balance unclaimed can be C/f |
|||
|
In case of a Trader unregistered in Excise but registered in Vat |
||||||||
|
S. No. |
Type of Purchase |
Section |
Stock |
CGST Credit Amount |
Section |
Stock |
SGST Credit Amount |
|
|
i) |
Import Invoice |
140(3) |
FG |
100% of Excise & SAD in BOE as CGST |
140(1) |
FG |
Vat C/f as per Vat returns |
|
|
ii) |
Excise plus Vat Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
|
iii) |
Excise plus CST Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
|
iv) |
Excise plus Sales tax exempt Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
|
v) |
Non Excise plus Vat Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
vi) |
Non Excise plus CST Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
vii) |
Kaccha Bill or No Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(1) |
FG |
Vat C/f as per Vat Returns |
|
viii) |
Credit of Excise and VAT on Capital Goods |
NA |
NIL |
140(2) |
Balance unclaimed can be C/f |
|||
|
In case of a Unregistered Trader |
||||||||||
|
S. No. |
Type of Purchase |
Section |
Stock |
CGST Credit Amount |
Section |
Stock |
SGST Credit Amount |
|||
|
i) |
Import Invoice |
140(3) |
FG |
100% of Excise & SAD in BOE as CGST |
140(3) |
FG |
Deemed Credit as SGST |
|||
|
ii) |
Excise plus Vat Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(3) |
FG |
100% of VAT in Bill as SGST |
|||
|
iii) |
Excise plus CST Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(3) |
FG |
Deemed Credit as SGST |
|||
|
iv) |
Excise plus Sales tax exempt Invoice |
140(3) |
FG |
100% of Excise in Bill as CGST |
140(3) |
FG |
Deemed SGST |
Credit |
as |
|
|
v) |
Non Excise plus Vat Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(3) |
FG |
100% of VAT in Bill as SGST |
||
|
vi) |
Non Excise plus CST Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(3) |
FG |
Deemed SGST |
Credit |
as |
|
vii) |
Kaccha Bill or No Invoice |
140(3) |
FG |
Deemed Credit |
CGST |
140(3) |
FG |
Deemed SGST |
Credit |
as |
|
viii) |
Credit of Excise and VAT on Capital Goods |
NA |
NIL |
NA |
NIL |
|||||
|
In case of a Unregistered Manufacturer Unregistered both under Excise & VAT |
|||||||||
|
S. No. |
Type of Purchase |
Section |
Stock |
CGST Credit Amount |
Section |
Stock |
SGST Credit Amount |
||
|
i) |
Import Invoice |
140(3) |
RM,SMG,FG |
100% of Excise & SAD in BOE as CGST |
140(3) |
RM,SMG,FG |
Deemed Credit as SGST |
||
|
ii) |
Excise plus Vat Invoice |
140(3) |
RM,SMG,FG |
100% of Excise in Bill as CGST |
140(3) |
RM,SMG,FG |
100% of VAT in Bill as SGST |
||
|
iii) |
Excise plus CST Invoice |
140(3) |
RM,SMG,FG |
100% of Excise in Bill as CGST |
140(3) |
RM,SMG,FG |
Deemed Credit as SGST |
||
|
iv) |
Excise plus Sales tax exempt Invoice |
140(3) |
RM,SMG,FG |
100% of Excise in Bill as CGST |
140(3) |
RM,SMG,FG |
Deemed SGST |
Credit |
as |
|
v) |
Non Excise plus Vat Invoice |
140(3) |
RM,SMG,FG |
NA |
140(3) |
RM,SMG,FG |
100% of VAT in Bill as SGST |
||
|
vi) |
Non Excise plus CST Invoice |
140(3) |
RM,SMG,FG |
NA |
140(3) |
RM,SMG,FG |
Deemed SGST |
Credit |
as |
|
vii) |
Kaccha Bill or No Invoice |
140(3) |
RM,SMG,FG |
NA |
140(3) |
RM,SMG,FG |
NA |
||
|
viii) |
Credit of Excise and VAT on Capital Goods |
NA |
NIL |
NA |
NIL |
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The author is a practising CA based in Delhi and is registered Insolvency Professional. He can also be reached at cavinodchaurasia@gmail.com
Disclaimer: The views expressed in this article are strictly personal. The content of this document are solely for informational purpose. It doesn’t constitute professional advice or recommendation. The Author does not accept any liabilities for any loss or damage of any kind arising out of information in this article and for any actions taken in reliance thereon.
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