07 June 2017
hi,
please correct if any provision is wrongly interpreted
(in case of trader)
in case of ITC on inputs held in stock:
if i possess documents evidencing excise component on inputs - eligible for 100% credit on same of last 12 months inputs held in stock
if i dont posses document evidencing payment of duty den 60% would be reduced from my CGST liability in sale of such goods
if i dont posses any document evidencing procurement of inputs... no credits available
kindly revert.
CAclubindia
