Input on closing stock as of june 30th 2017.

D Anil Kumar (Sr.Accounts Assistant) (29 Points)

09 December 2017

need clarification on the above subject.
shall take gst input on closing stock as of june 30th 2017 of non excise dealer.

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6 Replies

D Anil Kumar (Sr.Accounts Assistant) (29 Points)
Replied 09 December 2017

vat already claimed as per regular. shall again eligible for input on closing stock as of june 30th

RAJA P M ("Do the Right Thing...!!!") (127351 Points)
Replied 10 December 2017

If you have Excise Invoices then Yes... You can.

B Prabhakar Kamath (Head -Finance & Accounts) (46 Points)
Replied 10 December 2017

if you do not hv excise inv, then you can claim 60% of cgst if tax rate is 18% & above and 40% of cgst if tax rate is less than 18%

D Anil Kumar (Sr.Accounts Assistant) (29 Points)
Replied 10 December 2017

already utilised vat on closing stock as of june 30th. means again eligible for input on closing stock as of june 30th

CA TARUN KUMAR LAMBA (chartered accountant) (41 Points)
Replied 10 December 2017

excise credit not available in the above case

D Anil Kumar (Sr.Accounts Assistant) (29 Points)
Replied 10 December 2017

vat credit is already utilised on closing stock as of june 30th. shall again eligible for input on closing stock as of june 30th as SGST.

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