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itc eligibility for closing stock

ITC / Input 222 views 13 replies
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Business and tax consultant
3299 Points Posted on 15 October 2017
is cst paid customer is eligible for ITC in GST for his closing stock
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On 15 October 2017 at 23:49 Report
Replies (13)
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Advocate
54 Points Posted on 16 October 2017
No since it was not eligible as ITC in vat era.
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On 16 October 2017 at 07:38
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Business and tax consultant
3299 Points Posted on 16 October 2017
then he will be looser in GST era for his closing stock
3 Reply
On 16 October 2017 at 07:41
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Business and tax consultant
3299 Points Posted on 16 October 2017
anybody can explain how he is not eligible for ITC on his closing stock
3 Reply
On 16 October 2017 at 08:29
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"Do the Right Thing...!!!"
128147 Points Posted on 16 October 2017
CST purchase tax can't take as ITC in GST also in VAT....!

Then how to looser...??
463 Reply
On 16 October 2017 at 08:31
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Business and tax consultant
3299 Points Posted on 16 October 2017
will you explain how he is not looser with illustration
3 Reply
On 16 October 2017 at 08:33
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"Do the Right Thing...!!!"
128147 Points Posted on 16 October 2017
Please tell me what is ITC...?
Where we have ITC on GST purchase...?
463 Reply
On 16 October 2017 at 09:05
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Business and tax consultant
3299 Points Posted on 16 October 2017
cst purchase held in closing stock can claim ITC in GST I am sure
3 Reply
On 16 October 2017 at 09:33
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Business and tax consultant
3299 Points Posted on 16 October 2017
you are saying that he can't claim ITC in GST for CST purchases held in stock
3 Reply
On 16 October 2017 at 09:48
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"Do the Right Thing...!!!"
128147 Points Posted on 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....
463 Reply
On 16 October 2017 at 09:58
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Business and tax consultant
3299 Points Posted on 16 October 2017
thanks raja
3 Reply
On 16 October 2017 at 10:06
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Business and tax consultant
3299 Points Posted on 16 October 2017
in trans1 in which part he claim
3 Reply
On 16 October 2017 at 10:07
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"Do the Right Thing...!!!"
128147 Points Posted on 16 October 2017
meaningless.....!!!
463 Reply
On 16 October 2017 at 12:46
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Business and tax consultant
3299 Points Posted on 16 October 2017
means
3 Reply
On 16 October 2017 at 12:58


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