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itc on old stock
I am registered in excise an vat. What to do about the old stock purched before gst. Did i get input tax credit for it. If yes than how?
Replies (4)
Yes you will get input credit for Excise and VAT both in case you have paid the tax while purchasing any raw material or any input goods you will get the input credit at the same rate you have paid the tax.
good advice
Just go through section 140 of the cgst Act and the transition rules.
ITC (cenvat credit & vat credit) should not have been availed earlier. No double benefit pl. In case not availed, you should apply GST Tran 1 form before 29.08.2017.
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