A manufacturer or a service provider who has goods lying in the closing stock on which duty has been paid can also take the credit of the same. The dealer has to declare the stock of such goods on the GST Portal.
The dealer should have the invoices for claiming this credit. Also the invoices should be less than 1 year old.
What if you don’t have invoices?
Manufacturers or service providers who do not have an invoice evidencing payment of duty, cannot claim the credit under the GST regime.
Only traders can claim credit in case invoice is unavailable, subject to the following conditions:
- The stock should be identifiable separately.
- The credit can be taken by the trader only if the benefit of the same is passed on to the final consumer.
How will credit be taken in case of no invoice?
| Rate of GST on Goods | Intra state – Credit to CGST | Inter state – Credit to IGST |
| 18 % or more | 60% | 30% |
| Less than 18% | 40% | 20% |
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