Textiles and transitional credit
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16 August 2022
respected sir,
there is no VAT on cloth in andrhra pradesh in pre-GST regime. so no question of transitional credit relates to state tax (VAT). dealers dealing in textiles (not ready mades or made ups) purchased cloth from companies directly from states like gujarat or maharastra with purchases coverd by invoices. now the cloth is taxable under GST from 01-07-2017. can these taxable persons claim central taxes or duties paid on those goods as transitional credit which are held in stock as on 01-07-2017.please discuss
thanking you
there is no VAT on cloth in andrhra pradesh in pre-GST regime. so no question of transitional credit relates to state tax (VAT). dealers dealing in textiles (not ready mades or made ups) purchased cloth from companies directly from states like gujarat or maharastra with purchases coverd by invoices. now the cloth is taxable under GST from 01-07-2017. can these taxable persons claim central taxes or duties paid on those goods as transitional credit which are held in stock as on 01-07-2017.please discuss
thanking you
16 August 2022
What are the taxes paid on purchase of the textile goods purchased before 1st July, 2017?
17 August 2022
respected sir ,
any central taxes like central excise, cess or any other at manufacturing point.
thanking you
any central taxes like central excise, cess or any other at manufacturing point.
thanking you
17 August 2022
No. Not levied.
Unless you have paid yourself, you cannot claim any ITC
Unless you have paid yourself, you cannot claim any ITC
17 August 2022
thank you sir. for your advise
17 August 2022
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