Excise duty credit on finished stock at additional place of business.
Query (Issue) Started By: – SHIVKUMAR SHARMA Dated:- 19-9-2017 Last Reply Date:- 22-9-2017 Goods and Services Tax – GST
Got 12 Replies
GST
Dear Experts
\nOne 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,
\nPlease 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.
\nPlease 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 go<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n eply By Ganeshan Kalyani: = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n s not more than one year old is the basis of TRANS-1 along with closing balance as on 30.6.17 shown in ER-1 return or VAT returns. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Excise duty credit on finished stock at additional place of business. Query (Issue) Started By: – SHIVKUMAR SHARMA Dated:- 19-9-2017 Last Reply Date:- 22-9-2017 Goods and Services Tax – GSTGot 12 RepliesGSTDear Experts One of my friend having manufacturing unit at Surat and having additional place of business also at surat.They have lying few quantity … Continue reading “Excise duty credit on finished stock at additional place of business.”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7838","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7838"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7838\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe Reply:
\nWith due respect to experts view, i would like to submit my views as under:
\nUnder central excise factory had separate excise registration and additional place did not had excise registration.
\nNow, 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.
\nThe 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.
\nReply By Himansu Sekhar:\n<\/p>\n
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\nReply By KASTURI SETHI:
\nThe Reply:
\nSh.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.
\nReply By Himansu Sekhar:
\nThe Reply:
\nNo doubt about his enormous contribution and my due regards for his knowledge and wisdom.
\nThe issue he has raised is a genuine concern of many a persons. We need a solution.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nStock lying at factory- the input credit is availed and utilised. The closing credit balance of input t<\/p>\n
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