Input tax credit on opening stock on 01/07/2017
This query is : Resolved
k.b.nagesharao
(Querist)
08 June 2017
we are purchasing goods from importers at present these goods are non taxable (man made Fabrics). The seller give as bill of sale. Now shall we claim any input tax on these goods, Because the goods are already suffered additional exice duty by our seller.Please clarify.
thanks in advance
K.B.NAGESHA RAO
9448826793
kbnagesha@gmail.com
thanks in advance
K.B.NAGESHA RAO
9448826793
kbnagesha@gmail.com
CA R SEETHARAMAN
(Expert)
08 June 2017
If GST is payable on further sale of this product then you can claim input tax credit on Addl customs duty paid. Documentary evidence required.
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