Goods and Services Tax – GST – By: – CA.VINOD CHAURASIA – Dated:- 28-8-2017 Last Replied Date:- 29-8-2017 – Matrix of Input Tax Credit on opening stock in Transitional Provision Introduction: This article presents a matrix about how to claim input tax credit on opening stock as per transitional provisions u/s 140 of CGST Act, 2017 in respect of various type of situations. Matrix of Input Tax Credit on opening stock in Transitional Provision as per section 140 of CGST Act, 2017: In case of a Excise and VAT Registered Manufacturer S. No. Type of Purchase Section Stock CGST Credit Amount Section Stock SGST Credit Amount i) Excise plus Vat Invoice 140(1) FG, SMG, RM Cenvat C/f as per Return of Excise 140(1) FG, SMG, RM Vat C/f as per Vat returns ii) Excise plus CST Invoice 140(1) FG, SMG, RM Cenvat C/f as per Return of Excise 140(1) FG, SMG, RM Vat C/f as per Vat returns iii) Excise plus Sales tax exempt Invoice 140(1) FG, SMG, RM Cenvat C/f as per Return of Excise 140(1) FG, SMG, RM Vat
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as CGST 140(1) FG, SMG, RM Vat C/f as per Vat Returns ii) Excise plus CST Invoice 140(3) FG, SMG, RM 100% of Excise in Bill as CGST 140(1) FG, SMG, RM Vat C/f as per Vat Returns iii) Excise plus Sales tax exempt Invoice 140(3) FG, SMG, RM 100% of Excise in Bill as CGST 140(1) FG, SMG, RM Vat C/f as per Vat Returns iv) Import Invoice 140(3) FG, SMG, RM 100% of Excise & SAD in BOE as CGST 140(1) FG, SMG, RM Vat C/f as per Vat returns v) Non Excise plus Vat Invoice 140(3) FG, SMG, RM NIL 140(1) FG, SMG, RM Vat C/f as per Vat Returns vi) Non Excise plus CST Invoice 140(3) FG, SMG, RM NIL 140(1) FG, SMG, RM Vat C/f as per Vat Returns vii) Kaccha Bill or No Invoice 140(3) FG, SMG, RM NIL 140(1) FG, SMG, RM Vat C/f as per Vat Returns viii) Credit of Excise and VAT on Capital Goods NA NIL 140(2) Balance unclaimed can be C/f In case of a Importer Trader, FSD or SSD registered in Excise and Vat S. No. Type of Purchase Section Stock CGST Credit Amount Section Stock SGST Credit Amount i) Impor
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FG 100% of Excise & SAD in BOE as CGST 140(1) FG Vat C/f as per Vat returns ii) Excise plus Vat Invoice 140(3) FG 100% of Excise in Bill as CGST 140(1) FG Vat C/f as per Vat Returns iii) Excise plus CST Invoice 140(3) FG 100% of Excise in Bill as CGST 140(1) FG Vat C/f as per Vat Returns iv) Excise plus Sales tax exempt Invoice 140(3) FG 100% of Excise in Bill as CGST 140(1) FG Vat C/f as per Vat Returns v) Non Excise plus Vat Invoice 140(3) FG Deemed Credit CGST 140(1) FG Vat C/f as per Vat Returns vi) Non Excise plus CST Invoice 140(3) FG Deemed Credit CGST 140(1) FG Vat C/f as per Vat Returns vii) Kaccha Bill or No Invoice 140(3) FG Deemed Credit CGST 140(1) FG Vat C/f as per Vat Returns viii) Credit of Excise and VAT on Capital Goods NA NIL 140(2) Balance unclaimed can be C/f In case of a Trader unregistered in Excise but registered in Vat S. No. Type of Purchase Section Stock CGST Credit Amount Section Stock SGST Credit Amount i) Import Invoice 140(3) FG 100% of Excise &
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cise plus Vat Invoice 140(3) FG 100% of Excise in Bill as CGST 140(3) FG 100% of VAT in Bill as SGST iii) Excise plus CST Invoice 140(3) FG 100% of Excise in Bill as CGST 140(3) FG Deemed Credit as SGST iv) Excise plus Sales tax exempt Invoice 140(3) FG 100% of Excise in Bill as CGST 140(3) FG Deemed SGST Credit as v) Non Excise plus Vat Invoice 140(3) FG Deemed Credit CGST 140(3) FG 100% of VAT in Bill as SGST vi) Non Excise plus CST Invoice 140(3) FG Deemed Credit CGST 140(3) FG Deemed SGST Credit as vii) Kaccha Bill or No Invoice 140(3) FG Deemed Credit CGST 140(3) FG Deemed SGST Credit as viii) Credit of Excise and VAT on Capital Goods NA NIL NA NIL In case of a Unregistered Manufacturer Unregistered both under Excise & VAT S. No. Type of Purchase Section Stock CGST Credit Amount Section Stock SGST Credit Amount i) Import Invoice 140(3) RM,SMG,FG 100% of Excise & SAD in BOE as CGST 140(3) RM,SMG,FG Deemed Credit as SGST ii) Excise plus Vat Invoice 140(3) RM,SMG,FG 100% of E
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