Menu
ITC on excise duty payment
hi everyone.. as per some known source I came to know that excise duty paid in the preceeding one year to the appointed day can carry forward as input.. ours is cotton spinning industry. can we take the excise duty paid on stores and spares as input?
Replies (2)
yes you can subject to excise duty amount is separately mentioned in the bill otherwise you can take 60%of cgst if gst rate 18% or more or 40% of cgst in any other case please also note that if you already registered with excise then you can carry forward as per your return.
If you were eligible for Cenvat Ctedit on the above items under Existing Law,you will be eligible.
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
