1)when we are received goods before 11 month and then supplier 's payment still pending then ITC on that goods are still claimable on closing stock 30.06.2017 under gst regime
2) what is the treatment under gst when loss born from ITC 40/60 claimed stock on 30.06.2017.and how to show in the books of accounts.
Menu
ITC under gst in special case
Replies (6)
If payment is still pending after 01.07,then u can not claim ITC
is that there is any liabilities fir the purposes.
fir read as FOR
payment is not concerned to avail on opening credit but purchase bill must be after 30-06-2016
your second question about 60 or 40 percentage , if your product tax rate 18 or more than you are eligible for 60 % credit , other wise 40% , you also require to file TRAN 1 with on 90days after appointed date 01-07-2017
I further want to know about your product status i n previous act
Recent Topics :
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
Related Topics :
CAclubindia
