Goods and Services Tax – Started By: – SHIVKUMAR SHARMA – Dated:- 19-9-2017 Last Replied Date:- 22-9-2017 – Dear Experts One of my friend having manufacturing unit at Surat and having additional place of business also at surat.They have lying few quantity of duty paid finished goods in closing stock at additional place of business on 30.06.2017, Please confirm whether we can avail input tax credit of excise duty involve in closing stock at additional place of Business while filing GST TRN-1. Please not that stock lying on 30.06.2017at additional place of business was not shown in ER-1 of June 2017 as the same was duty paid goods. please share your expert opinion at the earliest Thanks & Regars – Reply By Rajagopalan Ranganathan – The R
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er: Under central excise factory had separate excise registration and additional place did not had excise registration. Now, manufacturing unit will claim input credit on inputs, capital goods and service tax credit. The excise excess credit shown in the return of June 2017 can be claimed in GST by carry forwarding the same in GST TRAN 1. The closing stock which is lying at depot (additional place of business) is an excise paid stock. Those stock will be sold by applying GST rate. So input tax credit contain in the closing stock is eligible as credit. This can be claimed in GST by showing in GST TRAN 1. – Reply By Himansu Sekhar – The Reply = Question which is to be resolved- own invoice will not be a valid document for taking the credit in
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R-1 return or VAT returns. – Reply By KASTURI SETHI – The Reply = Sh.Himsnsu Sekhar Ji,. We should not forget that Sh.Shiv Kumar Sharma is himself an expert. I always read his replies with eagerness and with an intent to get something new that is new idea. It is a fact and not exaggeration. – Reply By Himansu Sekhar – The Reply = No doubt about his enormous contribution and my due regards for his knowledge and wisdom.The issue he has raised is a genuine concern of many a persons. We need a solution. – Reply By Ganeshan Kalyani – The Reply = Stock lying at factory- the input credit is availed and utilised. The closing credit balance of input tax is shown in the excise return. The same closing credit can be disclosed in GST TRAN 1 and claim t
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