09 August 2017
I am a machine trader. I have some old stock of machines imported in December 2016. My company was not excise registered as the turnover was below limit. I have paid excise on the imported machine in December 2016 and planning to sell the machine now in August 2017.
Can I avail the input tax credit of the excise paid during imports so that I can sell the Machines at lower rates by taking input tax credit and applying GST on the same
09 August 2017
As per the transitional provisions of the act you are eligible for Input credit of CVD paid by contained in opening stock as on 1st July 2017. N. Jain group.blr@gmail.com
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