What will be credit available to cement dealer on stock available at 30th June?

What will be credit available to cement dealer on stock available at 30th June?

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3 Answer(s)

Excise duty and vat credit will be available to you. if excise can not be determined from invoice (ex warehouse) 60% of your cgst will be allowed once you sell these goods.

Answered on June 20, 1970.
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100 % excise duty use for liability of cgst only

Answered on June 20, 1970.
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First you have to count stock as on 30 June 2017. Then check the bills of these stock items. If your invoice separately specify Excise duty then 100% input will transfer to Cgst account And if you have invoice with no specification of excise then 60 /40 of vat amount.60% of vat as cgst if tax rate of good is 18% or more if less then 40% of vat as cgst.

Answered on June 22, 2017.
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Your Answer

Gen GST