Based On My understanding transitional credit for Those who are not registered in Excise But are registered in GST making supply of goods taxed @ 18% are entitled to claim credit upto 60% of tax paid Under GST if duty paid invoices are not available. Whether should I wait to fill TrAn-2 to take credit or shall I fill Tran-1 and take credit??? If the amount is to be shown in tran-1 part 7a what amount should i mention in eligible duties. Either the tax charged on invoice or 60% of the tax charged in invoice??
sir I have got it clarified sir..... It must be shown in Tran-1 7a. the eligible duty field must be entered as "0". When we sell the goods in stock tran-2 shall be filled and we will be entitled to the credit at the prescribed rate of tax on 60% or 40% of sale value of such goods.
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