Itc claim on old stock

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This query is : Resolved

mahendra sahoo (Querist)

27 August 2017 Dear experts,
I am excise registered as per existing law, we regular purchased from a manufacturer who established business in SEZ area. It didn't charge excise duty on invoice. can we take the full itc of such old stock. Please clear the above query?

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

27 August 2017 Which credit you want to take? When manufacturers not charged ED questions of ITC will not arise.

mahendra sahoo

mahendra sahoo (Querist)

27 August 2017 OK sir, If we purchased from dealer, we have no excise duty paid invoice, it has only VAT paid invoice, but we are registered under excise law, can we take full CGST itc or 60% of 18% rate of such old stock ?

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

27 August 2017 If you register or unregistered Excise dealer you can claim ITC on Excise if you have been charged Excise during purchase if you don't have bill can use-

TRAN 2 Registered persons under GST but unregistered or under old regime
A dealer or trader who does not have documents of duty paid

Form TRAN-2 is to be filed by the person who fulfills the following conditions:
Person is not registered under any pre-GST regime Holds closing stock on 1st July Does not hold any document to evidence payment of taxes on purchase of its closing stock Not being a manufacturer under Central Excise Act Not being a service provider under Service Tax laws

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