Matrix of Input Tax Credit on opening stock in Transitional Provision u/s 140 of CGST Act

[CA.VINOD CHAURASIA]

Matrix of Input Tax Credit on opening stock in Transitional Provision

Introduction:  This article presents a matrix about how to claim input tax credit on opening stock as per transitional provisions u/s 140 of CGST Act, 2017 in respect of various type of situations.

Matrix of Input Tax Credit on opening stock in Transitional Provision as per section 140 of CGST Act, 2017:

In case of a Excise and VAT Registered Manufacturer
S. No.	Type of Purchase	Section	Stock	CGST Credit Amount	Section	Stock	SGST Credit Amount
i)	Excise plus Vat Invoice	140(1)	FG, SMG, RM	Cenvat C/f as per Return of Excise	140(1)	FG, SMG, RM	Vat C/f as per Vat returns
ii)	Excise plus CST Invoice	140(1)	FG, SMG, RM	Cenvat C/f as per Return of Excise	140(1)	FG, SMG, RM	Vat C/f as per Vat returns
iii)	Excise plus Sales tax exempt Invoice	140(1)	FG, SMG, RM	Cenvat C/f as per Return of Excise	140(1)	FG, SMG, RM	Vat C/f as per Vat returns
iv)	Import Invoice	140(1)	FG, SMG, RM	Cenvat C/f as per Return of Excise	140(1)	FG, SMG, RM	Vat C/f as per Vat returns
v)	Non Excise plus Vat Invoice	140(1)	FG, SMG, RM	Cenvat C/f as per Return of Excise	140(1)	FG, SMG, RM	Vat C/f as per Vat returns
vi)	Non Excise plus CST Invoice	140(1)	FG, SMG, RM	Cenvat C/f as per Return of Excise	140(1)	FG, SMG, RM	Vat C/f as per Vat returns
vii)	Kaccha Bill or No Invoice	140(1)	FG, SMG, RM	Cenvat C/f as per Return of Excise	140(1)	FG, SMG, RM	Vat C/f as per Vat returns
viii)	Credit of Excise and VAT on Capital Goods	140(2)		Balance unclaimed      can be C/f if permissible under both the existing law & GST law	140(2)		Balance        unclaimed can be C/f if permissible under both the existing law & GST law

 

In case of a Manufacturer Unregistered in Excise but Registered in VAT
S. No.	Type of Purchase	Section	Stock	CGST Credit Amount		Section	Stock	SGST Credit Amount
i)	Excise plus Vat Invoice	140(3)	FG, SMG, RM	100% of Excise in Bill as CGST		140(1)	FG, SMG, RM	Vat C/f as per Vat Returns
ii)	Excise plus CST Invoice	140(3)	FG, SMG, RM	100% of Excise in Bill as CGST		140(1)	FG, SMG, RM	Vat C/f as per Vat Returns
iii)	Excise plus Sales tax exempt Invoice	140(3)	FG, SMG, RM	100% of Excise in Bill as CGST		140(1)	FG, SMG, RM	Vat C/f as per Vat Returns
iv)	Import Invoice	140(3)	FG, SMG, RM	100% of Excise & SAD in BOE as CGST		140(1)	FG, SMG, RM	Vat C/f as per Vat returns
v)	Non Excise plus Vat Invoice	140(3)	FG, SMG, RM	NIL		140(1)	FG, SMG, RM	Vat C/f as per Vat Returns
vi)	Non Excise plus CST Invoice	140(3)	FG, SMG, RM	NIL		140(1)	FG, SMG, RM	Vat C/f as per Vat Returns
vii)	Kaccha Bill or No Invoice	140(3)	FG, SMG, RM	NIL		140(1)	FG, SMG, RM	Vat C/f as per Vat Returns
viii)	Credit of Excise and VAT on Capital Goods	NA		NIL		140(2)		Balance        unclaimed can be C/f
In case of a Importer Trader, FSD or SSD registered in Excise and Vat
S. No.	Type of Purchase	Section	Stock	CGST Credit Amount		Section	Stock	SGST Credit Amount
i)	Import Invoice	140(3)	FG	100% of Excise & SAD in BOE as CGST		140(1)	FG	Vat C/f as per Vat returns
ii)	Excise plus Vat Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(1)	FG	Vat C/f as per Vat Returns
iii)	Excise plus CST Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(1)	FG	Vat C/f as per Vat Returns
iv)	Excise plus Sales tax exempt Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(1)	FG	Vat C/f as per Vat Returns
v)	Non Excise plus Vat Invoice	140(3)	FG	Deemed Credit	CGST	140(1)	FG	Vat C/f as per Vat Returns
vi)	Non Excise plus CST Invoice	140(3)	FG	Deemed Credit	CGST	140(1)	FG	Vat C/f as per Vat Returns
vii)	Kaccha Bill or No Invoice	140(3)	FG	Deemed Credit	CGST	140(1)	FG	Vat C/f as per Vat Returns
viii)	Credit of Excise and VAT on Capital Goods	NA		NIL		140(2)		Balance        unclaimed can be C/f

 

In case of a Importer Trader unregistered in Excise but registered in Vat
S. No.	Type of Purchase	Section	Stock	CGST Credit Amount		Section	Stock	SGST Credit Amount
i)	Import Invoice	140(3)	FG	100% of Excise & SAD in BOE as CGST		140(1)	FG	Vat C/f as per Vat returns
ii)	Excise plus Vat Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(1)	FG	Vat C/f as per Vat Returns
iii)	Excise plus CST Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(1)	FG	Vat C/f as per Vat Returns
iv)	Excise plus Sales tax exempt Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(1)	FG	Vat C/f as per Vat Returns
v)	Non Excise plus Vat Invoice	140(3)	FG	Deemed Credit	CGST	140(1)	FG	Vat C/f as per Vat Returns
vi)	Non Excise plus CST Invoice	140(3)	FG	Deemed Credit	CGST	140(1)	FG	Vat C/f as per Vat Returns
vii)	Kaccha Bill or No Invoice	140(3)	FG	Deemed Credit	CGST	140(1)	FG	Vat C/f as per Vat Returns
viii)	Credit of Excise and VAT on Capital Goods	NA		NIL		140(2)		Balance        unclaimed can be C/f

 

In case of a Trader unregistered in Excise but registered in Vat
S. No.	Type of Purchase	Section	Stock	CGST Credit Amount		Section	Stock	SGST Credit Amount
i)	Import Invoice	140(3)	FG	100% of Excise & SAD in BOE as CGST		140(1)	FG	Vat C/f as per Vat returns
ii)	Excise plus Vat Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(1)	FG	Vat C/f as per Vat Returns
iii)	Excise plus CST Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(1)	FG	Vat C/f as per Vat Returns
iv)	Excise plus Sales tax exempt Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(1)	FG	Vat C/f as per Vat Returns
v)	Non Excise plus Vat Invoice	140(3)	FG	Deemed Credit	CGST	140(1)	FG	Vat C/f as per Vat Returns
vi)	Non Excise plus CST Invoice	140(3)	FG	Deemed Credit	CGST	140(1)	FG	Vat C/f as per Vat Returns
vii)	Kaccha Bill or No Invoice	140(3)	FG	Deemed Credit	CGST	140(1)	FG	Vat C/f as per Vat Returns
viii)	Credit of Excise and VAT on Capital Goods	NA		NIL		140(2)		Balance        unclaimed can be C/f

 

In case of a Unregistered Trader
S. No.	Type of Purchase	Section	Stock	CGST Credit Amount		Section	Stock	SGST Credit Amount
i)	Import Invoice	140(3)	FG	100% of Excise & SAD in BOE as CGST		140(3)	FG	Deemed     Credit     as SGST
ii)	Excise plus Vat Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(3)	FG	100% of VAT in Bill as SGST
iii)	Excise plus CST Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(3)	FG	Deemed     Credit     as SGST
iv)	Excise plus Sales tax exempt Invoice	140(3)	FG	100% of Excise in Bill as CGST		140(3)	FG	Deemed SGST	Credit	as
v)	Non Excise plus Vat Invoice	140(3)	FG	Deemed Credit	CGST	140(3)	FG	100% of VAT in Bill as SGST
vi)	Non Excise plus CST Invoice	140(3)	FG	Deemed Credit	CGST	140(3)	FG	Deemed SGST	Credit	as
vii)	Kaccha Bill or No Invoice	140(3)	FG	Deemed Credit	CGST	140(3)	FG	Deemed SGST	Credit	as
viii)	Credit of Excise and VAT on Capital Goods	NA		NIL		NA		NIL

 

In case of a Unregistered Manufacturer Unregistered both under Excise & VAT
S. No.	Type of Purchase	Section	Stock	CGST Credit Amount	Section	Stock	SGST Credit Amount
i)	Import Invoice	140(3)	RM,SMG,FG	100% of Excise & SAD in BOE as CGST	140(3)	RM,SMG,FG	Deemed     Credit     as SGST
ii)	Excise plus Vat Invoice	140(3)	RM,SMG,FG	100% of Excise in Bill as CGST	140(3)	RM,SMG,FG	100% of VAT in Bill as SGST
iii)	Excise plus CST Invoice	140(3)	RM,SMG,FG	100% of Excise in Bill as CGST	140(3)	RM,SMG,FG	Deemed     Credit     as SGST
iv)	Excise plus Sales tax exempt Invoice	140(3)	RM,SMG,FG	100% of Excise in Bill as CGST	140(3)	RM,SMG,FG	Deemed SGST	Credit	as
v)	Non Excise plus Vat Invoice	140(3)	RM,SMG,FG	NA	140(3)	RM,SMG,FG	100% of VAT in Bill as SGST
vi)	Non Excise plus CST Invoice	140(3)	RM,SMG,FG	NA	140(3)	RM,SMG,FG	Deemed SGST	Credit	as
vii)	Kaccha Bill or No Invoice	140(3)	RM,SMG,FG	NA	140(3)	RM,SMG,FG	NA
viii)	Credit of Excise and VAT on Capital Goods	NA		NIL	NA		NIL

 

The author is a practising CA based in Delhi and is registered Insolvency Professional. He can be reached at cavinodchaurasia@gmail.com , Mob. +91 9953587496.

Disclaimer: The views expressed in this article are strictly personal. The content of this document are solely for informational purpose. It doesn’t constitute professional advice or recommendation. The Author does not accept any liabilities for any loss or damage of any kind arising out of information in this article and for any actions taken in reliance thereon.