Excise credit on stock by second stage dealer
This query is : Open
12 April 2017
Dear Sir / Madam,
Whether a Second Stage Dealer is allowed to take Excise Credit on Stock he is carrying on Appointed Day. (Less than 12 Months old). It would be helpful if someone can explain by way of example.
Whether a Second Stage Dealer is allowed to take Excise Credit on Stock he is carrying on Appointed Day. (Less than 12 Months old). It would be helpful if someone can explain by way of example.
12 April 2017
Whatever credit is available in the books based on last return shall be available as GST credit, irrespective of the fact that when such credit was taken. Restriction of one year is on taking credit. Once credit is taken, it can be utilized at any point of time, even after many years.
14 April 2017
I suppose you are mentioning last VAT return, but how would a Second Stage Dealer would get credit for Excise already paid by manufacturer as he is not filling any return for excise and he has no proof and details of Excise paid.
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