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Accounting for cenvat credit under gst regime

This query is : Resolved 
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(Querist)
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.
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RAJA P M

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RAJA P M (Expert)
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
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ANKUSH GARG

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

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