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input credit
if a trader purchased some goods directly from manufacturer 2 months ago, on which excise duty is charged, if that stock is not sold till 30th June and carry forward the same for sale, whether credit of that excise duty will be available to trader while liability arises on sale in GST?
Replies (4)
if dealers have the excise invoice then he is eligible for input credit after filing GST Trns 1 form .
if excise invoice is not available then eligible only 60%/40% of CGST as the case may be..
if excise invoice is not available then eligible only 60%/40% of CGST as the case may be..
thank you sir, dealer have excise invoice. but he is not first stage or second stage dealer.
if he is end user, then also eligible to claim the excise inputs on stocks lying with him on 30 th June.
ok, thanks sir
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