itc eligibility for closing stock
g mahesh Mundra (Business and tax consultant) (3299 Points)
15 October 2017
is cst paid customer is eligible for ITC in GST for his closing stock
13 Replies
Baidyanath Agrawal
(Advocate)
(54 Points)
Replied 16 October 2017
No since it was not eligible as ITC in vat era.
g mahesh Mundra
(Business and tax consultant)
(3299 Points)
Replied 16 October 2017
then he will be looser in GST era for his closing stock
g mahesh Mundra
(Business and tax consultant)
(3299 Points)
Replied 16 October 2017
anybody can explain how he is not eligible for ITC on his closing stock
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 16 October 2017
CST purchase tax can't take as ITC in GST also in VAT....!
Then how to looser...??
Then how to looser...??
g mahesh Mundra
(Business and tax consultant)
(3299 Points)
Replied 16 October 2017
will you explain how he is not looser with illustration
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 16 October 2017
Please tell me what is ITC...?
Where we have ITC on GST purchase...?
Where we have ITC on GST purchase...?
g mahesh Mundra
(Business and tax consultant)
(3299 Points)
Replied 16 October 2017
cst purchase held in closing stock can claim ITC in GST I am sure
g mahesh Mundra
(Business and tax consultant)
(3299 Points)
Replied 16 October 2017
you are saying that he can't claim ITC in GST for CST purchases held in stock
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 16 October 2017
Yes...
We claim "ITC". But, CST purchase is not ITC. You know Total bill value calculated as purchase for CST purchase. Already we got benefit at the CST purchase. As per rule it's not ITC....
We claim "ITC". But, CST purchase is not ITC. You know Total bill value calculated as purchase for CST purchase. Already we got benefit at the CST purchase. As per rule it's not ITC....
g mahesh Mundra
(Business and tax consultant)
(3299 Points)
Replied 16 October 2017
in trans1 in which part he claim
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