Can the claim of excise duty to business is allowable?
Suppose there is one business which was not registered under Excise but it has purchased on excise is levied & it is shown on the invoice. so can the claim of excise duty to business is allowable?
As per section 140 of CGST Act, every person not required to register under old laws, shall be entitled to take, in his electronic credit ledger, credit of eligible duties in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock k on the appointed day subject to the following conditions, namely:–
– (i) such inputs or goods are used or intended to be used for making taxable supplies under this Act;
(ii) the said registered person is eligible for input tax credit on such inputs under this Act;
(iii) the said registered person is in possession of invoice or other prescribed documents evidencing payment of duty under the existing law in respect of such inputs;
(iv) such invoices or other prescribed documents were issued not earlier than twelve months immediately preceding the appointed day; and
(v) the supplier of services is not eligible for any abatement under this Act: