Can a trader with duty-paying documents (including a First Stage dealer or a Second Stage dealer) claim the Cenvat Credit on stock held at the designated date, viz. 1st July 2017, 2017?

Yes. A trader with duty-paying documents, including a first or second stage dealer, can claim Cenvat Credit under section 140(3) of CGST Act 2017, 2017. However, the following conditions must be met: (a) inputs are used or intended for use in making taxable supplies; and (b) input tax credit is available on input tax credits for such inputs. (c) Invoices and/or other prescribed documentation proving payment of duty under an earlier law are in the possession of the taxable person; (d) these invoices and/or prescribed documents were not earlier than the appointed day; and/or any service provider of services is not eligible to receive any abatemen