we r a manufacturer of medicine in uttranchal in excise free zone..however we r having stock of around 6 crs.on which we have paid excise duty on purchases made by us.
can we claim a cenvat of such purchases in cgst.
and also we have sum purchases directly from traders..cn we claim 40% scheme for such?
5 Replies
rocky
(accountant)
(953 Points)
Replied 22 June 2017
yes.. you can.. if you have invoices, which separately shows excise duty
CA Rashmi Gandhi
(Chartered Accountant)
(86500 Points)
Replied 22 June 2017
Even if excise duty is not shown separately you can claim 40% credit if invoices available in respect of such credit
Varun Grover
(Chartered accountant)
(32 Points)
Replied 22 June 2017
in which returns i hv to give such information?
CA Rashmi Gandhi
(Chartered Accountant)
(86500 Points)
Replied 22 June 2017
You have to give details in Form Tran-1 within 90 days of appointed day.
You can claim such ITC in next 6 tax periods.
You can claim such ITC in next 6 tax periods.
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