Accounting for cenvat credit under gst regime

This query is : Resolved

ANKUSH GARG (Querist)
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22 June 2018 Dear All,

In case of a FSD registered under Excise Act, passes accounting Entries in his Books of Accounts on Filling Transition-1 for booking credit under GST Regime.

RAJA P M

RAJA P M (Expert)
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22 June 2018 Please elaborate Your query...

If You ask about the Accounting process of Availed input credit through TRAN-1?

If Yes...

You can book under "Indirect Income" of the availed ITC thorough TRAN-1

ANKUSH GARG

ANKUSH GARG (Querist)
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23 June 2018 will it not be right to reduce the stock and book the credit
CGST Credit Ledger Dr.
Stock Cr.

RAJA P M

RAJA P M (Expert)
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23 June 2018 I don't think it's account under STOCK...

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