Excise duty credit on finished stock at additional place of business.

[SHIVKUMAR SHARMA]

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

AI Summary

Debate Over Input Tax Credit Eligibility for Duty-Paid Stock Under GST TRAN-1's Transitional Provisions A manufacturing unit in Surat with an additional business location inquired about claiming input tax credit for excise duty on duty-paid finished goods in stock as of June 30, 2017, while filing GST TRAN-1. Experts provided varied opinions. One suggested that since the stock is duty-paid, it cannot be treated as closing stock for credit under transitional provisions. Another advised declaring the additional location as a business vertical for credit benefits. Others discussed the eligibility of claiming credit based on excise registration and the type of stock, emphasizing the importance of valid documentation and the closing balance shown in returns.