Matrix of Input Tax Credit on opening stock in Transitional Provision u/s 140 of CGST Act
By: – CA.VINOD CHAURASIA
Goods and Services Tax – GST
Dated:- 28-8-2017
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)
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t Registered in VAT
S. No.
Type of Purchase
Section
Stock
CGST Credit Amount
Section
Stock
SGST Credit Amount
i)
Excise plus Vat 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
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(
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ed
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 Importer 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 & 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(
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cise 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 Unregistered Trader
S. No.
Type of Purchase
Section
Stock
CGST Credit Amount
Section
Stock
SGST Credit Amount
i)
Import Invoice
140(3)
FG
100% of Excise
& SAD in BOE as CGST
140(3)
FG
Deemed Credit as SGST
ii)
Excise 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
= = = = = = = =
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RM,SMG,FG
Deemed Credit as
SGST
iv)
Excise plus Sales tax exempt
Invoice
140(3)
RM,SMG,FG
100% of Excise
in Bill as CGST
140(3)
RM,SMG,FG
Deemed
SGST
Credit
as
v)
Non Excise plus Vat Invoice
140(3)
RM,SMG,FG
NA
140(3)
RM,SMG,FG
100% of VAT in Bill as
SGST
vi)
Non Excise plus CST Invoice
140(3)
RM,SMG,FG
NA
140(3)
RM,SMG,FG
Deemed
SGST
Credit
as
vii)
Kaccha Bill or No Invoice
140(3)
RM,SMG,FG
NA
140(3)
RM,SMG,FG
NA
viii)
Credit of Excise and VAT on
Capital Goods
NA
NIL
NA
NIL
The author is a practising CA based in Delhi and is registered Insolvency Professional. He can be reached at cavinodchaurasia@gmail.com , Mob. +91 9953587496.
Disclaimer: The views expressed in this article are strictly personal. The content of this document are solely for informational purpose. It doesn't constitute professional advice or recommendation. The Author does not accept any liabilities for any loss or damage of
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