I am a mfg. of machinery and spares and i have closing stock since 2015-16, at the time of purchases of Raw Materials i hav paid Excise duty on it...now i have closing stock with credit of Excise Duty...so how can i trf my excise credit to GST CREDIT....
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Excise credit trf to gst
Replies (2)
CENVAT credit of invoices dated more than 1 year can not be availed unders GST. You have option to sell/ return those stock before 1st July 2017. You may buy it again if you continue to need those stock in inventory.
thanks sir..
sir can you explain beakup of CGST and SGST. if team has 18% GST....
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