Migration provisions & itc on closing stock
Querist : Anonymous
i am a retailer dealing in iron.( i am not registered under central exise act now.) my purchase invoices contains 5 % vat only. and they dont evidence payment of central exice ( even i dont know whether they suffered cen vat or other duty or not)..now under gst iron fixed at 18% slab. now i will pay 9% of cgst and 9% of sgst from july unde gst..i get sgst input (vat paid ) at 5% on closing stock .then how much of cgst i will get as input on closing stock in obsence of central exice invoice.please discuss.
thanking you
Querist : Anonymous
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