Credit of 40% on transitional stocj
This query is : Resolved
24 May 2017
can we take cgst credit of 40% on transitional stock which supplied by ssi unit or sez enjoying excise exemption.
24 May 2017
You can't take as invoice for payment of central excise is required.
24 May 2017
sir since invoice is not there thats why we are going for 40%.
24 May 2017
The query is since excise is not suffered hence can we take excise on presumptive basis.
24 May 2017
Since excise not suffered you can't take excise credit on presumptive basis. Evidence for purchase is required, only duty paid documents is not insisted,
24 May 2017
Documents evidencing purchase are required. Only if document does not evidence payment of excise duty credit shall be allowed.
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
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- LC charges in relation to Asset purchased should be Capitalised ?
- Copyright software
- Value of property in capital gain
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- Transporter Declaration form
- Multiple trade mark
- Sale Incentive booking
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
