Gst
This query is : Open
11 July 2017
I am dealing in trading of goods on which single stage tax regime was applicable and I was receving tax paid invoices if under GST I voultenry apply for reg. Can I claim input tax credit on closing stock because my turnover is below threshould limit
11 July 2017
Yes you can get yourself registered even if your turnover is below threshold limit
As per Section 25 (3) of CGST act ,
A person may get himself registered voluntarily, after that all provision of act will apply and you will be eligible to claim input credit.
As per Section 25 (3) of CGST act ,
A person may get himself registered voluntarily, after that all provision of act will apply and you will be eligible to claim input credit.
CA Suresh Jain
(Expert)
11 July 2017
Please compare the benefit of taking Input credit verses remain unregistered till the supply of Rs. 20 Lakh. Please note that the input credit on stock can also be taken by you on crossing the exemption limit.
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