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Tax credit to manufacturers having turnover below 1.5 cr. And having no excise registration.
A manufacturer having turnover below Rs. 1.5cr and not registered under excise. Also no excise invoices available for stock held during transition. Can he get input tax credit for stock?
Replies (3)
Section 140(3) of CGST Act,2017
1) In your case manufacture is unregistered but goods are taxable under existing law.
2) Goods are taxable under existing law and GST regime-input allowed
3) As You dont have excise invoice therefore excise credit shall not be allowed.because you are manufacture and not trader
Sir, manufacturer is registered under vat act and paid vat accordingly and availed set off of vat portion. As he is not registered under excise, he is not getting excise credit, what about that portion of tax he has already paid at the time of transition
Sir, manufacturer is registered under vat act and paid vat accordingly and availed set off of vat portion. As he is not registered under excise, he is not getting excise credit, what about that portion of tax he has already paid at the time of transition
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