How much ITC can be claimed for consolidated 50lakh iron n cement stock?

UP registered trading in iron & cement with 20lakh stock of iron & 30lakh stock of cement, on the basis of this, how much ITC can be claimed?

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4 Answer(s)

You can claim input for excise portion, if you have direct excise paid invoice from manfacturer than you can claim full excise otherwise 60% of CGST.

Answered on June 20, 2017.
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100% cgst, if excise bill have 60% cgst if bill have and are tax rate more then 18% 40% cgst if tax rate below 18%.

Answered on June 20, 2017.
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Sandeep ji aap ne jo answer diya h use detail me bataye.

Answered on June 21, 2017.
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Excise Nahi hai Bill ma Only Vat tha.

Answered on June 21, 2017.
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Your Answer

Gen GST