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Input tax credit under gst

vicky (Article) (73 Points)

15 July 2017

Sir, I am a private limited company with stock of value 1 Crore as on 30th June purchased from other state by paying CST @ 2% against Form C. Is this CST Paid Rs. 2 Lacs now eligible for ITC under the GST tax Regime? please explain other related aspects too

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4 Replies

Hitesh Patel (CS Final-Trainee) (129 Points)
Replied 15 July 2017

no CST paid will not allowed as credit
however other Tax like Exceise, ST or Vat credit allowed whether U registered or not under such specified act

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satender saini (gohana) (9 Points)
Replied 15 July 2017

No, CST paid on purchase from other state can not be refunded under GST provisions and Form C is immaterial.

NITIN KOTAK (SERVICE) (1465 Points)
Replied 15 July 2017

if you already register , and availed input tax credit . and set off against your liabilities. in case you carry forward your opening credit as on 01-07- 2017 after filing TAN-1. no question about your stock in CST or Local.