Input credit eligibility.

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manisha

manisha (Querist)
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01 August 2017 Is KKC eligibile under GST for Input Credit?

CA Altamush Zafar

CA Altamush Zafar (Expert)
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01 August 2017 Yes it is. As per CENVAT Credit Rules it is eligible duty therefore it can be carried forward.

Nilesh

Nilesh (Expert)
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02 August 2017 Agree with above view. However KKC credit not available for invoice received after 30 June. Also, dept is of the view that KKC credit is not available. But as said in above ones it is valid CENVAT you can carry forward in GST

manisha

manisha (Querist)
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03 August 2017 But it is not covered under Eligible duty as per sec 140 Explanation 2.

CA Altamush Zafar

CA Altamush Zafar (Expert)
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03 August 2017 Have you already taken KKC credits in your returns?

manisha

manisha (Querist)
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07 August 2017 obviously we will file April-June return normally and will show KKC return in closing balance if there.

CA Altamush Zafar

CA Altamush Zafar (Expert)
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07 August 2017 Then 140(1) will become applicable and there CENVAT Credit is mentioned and not eligible duties. To explain this I asked you that question. It is pretty obvious that you would have taken the credits.

CA Altamush Zafar

CA Altamush Zafar (Expert)
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07 August 2017 CENVAT credit includes kkc and you can transfer the credits to input credit register as cgst credits

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