GST CREDIT ON OPENING STOCK

[RAJESH CHANANA]

Dear Experts

We are importing Goods which are used for manufacture of final products on which we are taken CENVAT credit on Excise duty, & SAD. We are also importing trading goods by separate Invoice & Bill of Entry and not taking any credit on CENVAT. However we take refund of SAD on goods sold in trading.

Now my question is whether we can take credit on Excise duty & SAD on Opening stock on trading items (which I have cleared from custom after paying Excise duty and SAD ) which are available with us on the date of implementation of GST.

Thanks

Rajesh

AI Summary

Claim GST Credit on Opening Stock: Eligible for 40%-60% Credit Without Duty-Paid Documents An individual inquired about claiming GST credit on opening stock for trading goods imported with paid Excise duty and Special Additional Duty (SAD) before GST implementation. They previously took CENVAT credit on manufacturing goods but not on trading goods, opting instead for a SAD refund on sold items. An expert confirmed that credit could be taken on the opening stock. Another expert agreed, adding that if duty-paid documents are unavailable, credit is eligible for 40% or 60% of the Central GST payable.