MANUFACTURER/ SERVICE PROVIDER NOT REGISTERED UNDER ANY OF CURRENT LAWS NOW REGISTERED UNDER GST


Such a person is eligible to take credit of VAT, Excise duty, Additional Excise Duty, CVD and SAD in respect of raw materials, finished and semi-finished stock held on 30th June 2017

Credit of VAT will be allowed in accordance with the following terms

  • Goods should be used to make taxable GST supplies
  • ITC in respect of the inputs should be eligible under GST
  • VAT or retail invoice evidencing payment of duty is essential
  • Date of issue of such invoice must be on or after July 1, 2016
  • GST FORM TRAN-1 to be filed by 28th September 2017 and should contain the details about stock held on June 30, 2017 and credit to be availed
  • Credit shall be carried forward as SGST credit

 

Credit of excise duty, CVD and SAD where duty paying document is available

  • Goods should be used to make taxable GST supplies
  • ITC in respect of the inputs should be eligible under GST
  • Excise invoice / Bill of entry evidencing payment of duty is essential
  • Date of issue of such document must be on or after July 1, 2016
  • GST FORM TRAN-1 to be filed by 28th September 2017 and should contain the details about stock held on June 30, 2017 and credit to be availed
  • Credit shall be carried forward as CGST credit