suppose a trader has a invoice of excise which contains both VAT as well as Central Excise duty, can he avail input tax for both fully:
1) VAT INPUT TAX AS SGST AND
2) CENTRAL EXCISE DUTY AS CGST
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trader input tax credit on stock held as on 30.06.17
Replies (4)
state VAT credit will be allowed as SGST credit
Central Excise credit will be allowed as CGST credit
Central Excise credit will be allowed as CGST credit
credit will be allowed full if you have valid excise invoice
where we put the invoice detsils for take back cgst on existing stock
Every registered person entitled to take credit of input tax under section 140 shall, within sixty days of the appointed day, submit an application electronically in FORM GST TRAN1, duly signed, on the Common Portal specifying therein, separately, the amount of tax or duty to the credit of which the said person is entitled under the provisions of the said section
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