Will I get credit of 2 % cst paid on bill of closing stock?

Will I get credit of 2 % cst paid on bill of closing stock. Pl give section in gst

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6 Answer(s)

No Never.

Answered on June 2, 2017.
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No, because as per section 140 Credit of duties eligible as per existing law are allowed to carry forward in GST.

Answered on June 2, 2017.
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No.. but u will get 40% of output tax liability as credit as per transitions rules.

Answered on June 3, 2017.
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But if u have excise invoice than credit is available of excise components.

Answered on June 3, 2017.
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Not allowed. As per Traditional provisions, credit is allowed only when it is eligible under existing VAT or CST law. Under existing law, it is ineligible.

Answered on June 3, 2017.
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No you will not get 2% CST credit under gst on stock held as on the day prior to appointed day.

Answered on June 3, 2017.
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Your Answer

Gen GST