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Input credit

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Assistant Manager
23 Points Posted on 10 July 2017
Can we avail 100% Input credit?
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On 10 July 2017 at 16:31 Report
Replies (6)
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accountant
953 Points Posted on 10 July 2017
please ask question in detail
1 Reply
On 10 July 2017 at 16:47
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accountant
953 Points Posted on 10 July 2017
if excise duty is shown in invoice . then you can avail 100%
otherwise 60% of central GST
means if your item tax rate is 18% , then 60% of 9%
1 Reply
On 10 July 2017 at 16:48
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Assistant Manager
23 Points Posted on 10 July 2017

our Item Tax rate is 18%

3 Reply
On 10 July 2017 at 16:50
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accountant
953 Points Posted on 10 July 2017
total input 5.4% of your taxable sale
example
if your taxable sale for july is 100000
cgst 9000
sgst 9000
then input will be 5400
and cgst payable =9000-5400=3600
sgst payable 9000
1 Reply
On 10 July 2017 at 16:59
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Assistant Manager
23 Points Posted on 10 July 2017

how 5.4%? it should be 18% as we can avail 100% input credit

Also, Our one product which was previously exempt from tax, now comes in the 5% tax category.

so can we avail input tax on it as we have paid 12.5% or 6% excise duty on the inputs of the same, if yes how much?

3 Reply
On 10 July 2017 at 17:26
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accountant
953 Points Posted on 10 July 2017
if excise duty is shown in invoice, then 100% of cgst
1 Reply
On 10 July 2017 at 17:42


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