banner_ad

Itc of ed in gst

ITC / Input 170 views 3 replies

How register 1st/2nd stage dealer under earlier Central Excise can avail ITC for stock hold as on 30th Jun 2017?

i.e stock is Purchased from Manufacturer or 1st dealer. Excise duty is seperately & clearly mentioned in purchase invoice. Earlier we used to pass on the same. Now how can I take ITC of ED paid?

Replies (3)

If you are FSD or SSD and hold ED paid stock, then as per me the credit of same is already allowed to you in your last excise return filed by you, just carry forward the same balance in TRAN-1.

Yes, ITC available under section 140(3) by filing TRAN 1
Sir, If we are FSD, at time of dealer excise return, we had not paid excise duty, bcz we only pass the excise credit to our customers on the basis of manufacturer invoice, and also generating excise invoice to our customers,
My question is,
1.how to calculate the itc on excise previous return for carry forward cases?
2. We also paid CST on our interstate purchase bill, can we avail such ITC of CST? If avail where to be show trans 1.
3. Can we will be take excise credit of Remaining stock as on 31. 07.2017. e.g stock value amount rs 1500000 and all the stocks are 18%, all stock has excise duty paid invoice. calculate here ITC amount?.
4. Where It will be show in Trans 1 form 7 or 8.?

Please help me


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details