Credit of 40% on transitional stocj

This query is : Resolved

Avijit Saha (Querist)
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24 May 2017 can we take cgst credit of 40% on transitional stock which supplied by ssi unit or sez enjoying excise exemption.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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24 May 2017 You can't take as invoice for payment of central excise is required.

Avijit Saha

Avijit Saha (Querist)
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24 May 2017 sir since invoice is not there thats why we are going for 40%.

Avijit Saha

Avijit Saha (Querist)
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24 May 2017 The query is since excise is not suffered hence can we take excise on presumptive basis.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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,

Studentsca

Studentsca (Expert)
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24 May 2017 Documents evidencing purchase are required. Only if document does not evidence payment of excise duty credit shall be allowed.

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Credit of 40% on transitional stocj

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