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Input tax credit

RENU ALREJA (SERVICE) (34 Points)

23 June 2017

Can you please guide us on following 1. Can we claim CVD & SAD as input Tax Credit. 2. Custom Duty as input Tax Credit

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3 Replies

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 23 June 2017

Under GST CVD and SAD are being merged but not basic custome duty. So there credit will be allowed as IGST under GST

RENU ALREJA (SERVICE) (34 Points)
Replied 23 June 2017

thanks for prompt reply. that means we can avail this paid CVD & SAD as Input Tad Credit

Vidya (Finance Head) (22 Points)
Replied 25 June 2017

If you could clarify, regarding a firm which imports products to India for sale (The firm doesn't have an excise registration) It imports products for resale only. Whether the firm will be able to claim 100% ITC of CVD & SAD on its closing stock held by it as on 30th June 2017.