Section 145 of GST Law
Query (Issue) Started By: – Yogesh Panchal Dated:- 26-4-2017 Last Reply Date:- 28-4-2017 Goods and Services Tax – GST
Got 1 Reply
GST
A registered taxable person, who was not liable to be registered under the earlier law or who was engaged in the manufacture of exempted goods under the earlier law but which are liable to tax under this Act, shall be entitled to take, in his electronic credit ledger, credit of eligible duties and taxes in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day subject to the following conditions:
* such inputs and / or goods are used or intended to be used for making taxable supplies under this Act;
* t
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
rule 6(3)a of Cenvat Credit Rules-2004, maintain separate account of manufacturing inputs material & for the trading material also, revert service tax credit at turnover ratio prescribe in the central excise law. In above scenario please guide following points.
* Trading warehouse material on which we have not take the credit, we have not charged excise duty at the time of sales, not collect duty from our customer, but if duty paid stock laying in trading warehouse on 30th June-2017. As a closing stock. also after implementation of GST, we have liable to pay GST on above duty paid trading goods, which excise duty paid but do not take credit , in the above case tax paid two time, first at the time of purchase paid excise duty & after 1st J
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =