closing stock itc detail
This query is : Resolved
29 June 2017
I am a registered vat wholesaler I don't have any proof of exceise duty paid and I don't even know whether the product has excise duty or not. bcoz I buy only from local state and only vat is mentioned in my invoice. am I eligible for claiming credit(ie 60,40 for the respective stock) on the cgst which I pay
29 June 2017
https://blogs.tallysolutions.com/input-credit-closing-stock-gst-transition/
follow the link
follow the link
29 June 2017
is this irrespective of whether exice has been paid or not paid
29 June 2017
the question of excise is for manufacturer and vat is for trader...ok?
29 June 2017
ok. so I am a vat wholesaler so 60or 40% of cgst I pay for the closing stock will be given by the government am I rite
29 June 2017
that depends upon the rate of VAT...... 60/40 is for 18% and above
29 June 2017
yeah.that I know. thank u very much for the clarification
29 June 2017
btw the compensation cess mentioned by the government is it applicable at all level of trade or only at the manufacturing point
29 June 2017
ok. you are most welcome.
29 June 2017
can u also comment abt the cess
29 June 2017
go through the link for the cess
https://www.thehindubusinessline.com/multimedia/archive/03166/GST-compensation-c_3166108a.pdf
https://www.thehindubusinessline.com/multimedia/archive/03166/GST-compensation-c_3166108a.pdf
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Relief u/s Section 89
- GST ON DAMAGED GOODS
- Tax liability on income of freelancer
- Agriculture income or business income
- REGARDING GST LIABILITY/....
- STCG FOR GOLD ETFs
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
