Excise credit for traders

ITC / Input 146 views 1 replies

ASHVIN PATEL

GST Practioner

9 Points Joined June 2017

My Trading clients from Gujarat purchase Electrical Accessories form Daman(UT).Daman party not collected CST against form C as they enjoying Vat exemption at Daman.But in Bill mention seperately Excise Duty @ 12.50%.Can I claim that Excise duty ITC after GST implement as these excisable stock in hand as on 30th June 2017?

Replies (1)

Bhavleen Kaur Oberoi

Chartered Accountant

228 Points Joined August 2011

you can take credit of excise duty provided tax invoice is available and other related conditions as mentioned in section 140 of cgst act are fulfilled but credit of vat will not be available as it is not allowed under existing laws