Itc on stock 30.06.2017

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22 Points Posted on 23 June 2017

I HAVE STOCK 30.06.2017 AS UNDER PLS CALULATE ITC ON STOCK FOR GST

1. YARN EXCISE DUTY PAID(AS PER PURCHASE BILLS ) STOCK   RS.2500000

2. YARN  VAT PAID STOCK                                                                    RS.1000000

3.CLOTH TAX FREE STOCK                                                                  RS.1000000

ALL STOCK USED MANUFACTURE OF FABRICS FOR GST RATE @ 5%

 

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On 23 June 2017 at 11:45 Report
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Chartered Accountant & ICAI Certified In
97 Points Posted on 24 June 2017
You can claim 100prcnt credit of both excise and vat paid on your raw material as on 1st July even though u were manufacturer of tax free goods. Keep the invoices with you for the past one year. Section 140(3) of CGST ACT.
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On 24 June 2017 at 02:13

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