Itc on stock 30.06.2017

ITC / Input 404 views 1 replies

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%

 

Replies (1)
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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