Input tax credit related to builders
This query is : Resolved
Rahul Bhati
(Querist)
16 August 2017
Builders were paying VAT and excise duty on inputs upto 30.06.2017 which is not allowed as credit under previous law.
My question is whether credit of VAT and excise duty paid before 1.7.2017 is admissible as credit under gst?
CA R SEETHARAMAN
(Expert)
16 August 2017
Yes Credit of VAT and excise duty paid before 1.7.2017 is admissible as credit under gst.
Rahul Bhati
(Querist)
16 August 2017
thank you sir,
whether fully admissible or partly? and any obligation arise after claiming this input?
CA R SEETHARAMAN
(Expert)
16 August 2017
Fully admissible if invoice and excise duty documents available.
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