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Input tax credit under gst

ITC / Input 244 views 4 replies
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73 Points Posted on 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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On 15 July 2017 at 18:39 Report
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CS Final-Trainee
129 Points Posted on 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
2 Reply
On 15 July 2017 at 18:54
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gohana
9 Points Posted on 15 July 2017
No, CST paid on purchase from other state can not be refunded under GST provisions and Form C is immaterial.
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On 15 July 2017 at 18:58
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SERVICE
1465 Points Posted on 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.
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On 15 July 2017 at 21:12
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SERVICE
1465 Points Posted on 15 July 2017
whether you are not register in excise and having invoice of excise duty , than you claim for such duties.
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On 15 July 2017 at 21:14


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