How can avail itc
This query is : Open
31 December 2017
SIR I HAVE GET A FRESH NEW REGISTRATION IN GST ON 27 JULY 2017 AS COMPOSITION DEALER
I HAVE PURCHASE GOODS OF RS. 9 LAKH TILL NOW
AND
SELL GOODS OF RS.4 LAKH
(DURING COMPOSITION SCHEME)
NOW I HAVE STOCK OF RS, 5 LAKH
THIS STOCK IS GST TAXPAID AND PURCHASED FROM REGISTERD DEALER
NOW I WANT WITHDRAW COMPOSITION SCHEME
SO QUETION ARISE THAT
CAN I AVAIL ITC OF RS. 5 LAKH STOCK
IF YES
WHICH FORM SHOULD I FILL FOR IT
I HAVE PURCHASE GOODS OF RS. 9 LAKH TILL NOW
AND
SELL GOODS OF RS.4 LAKH
(DURING COMPOSITION SCHEME)
NOW I HAVE STOCK OF RS, 5 LAKH
THIS STOCK IS GST TAXPAID AND PURCHASED FROM REGISTERD DEALER
NOW I WANT WITHDRAW COMPOSITION SCHEME
SO QUETION ARISE THAT
CAN I AVAIL ITC OF RS. 5 LAKH STOCK
IF YES
WHICH FORM SHOULD I FILL FOR IT
CA Suresh Jain
(Expert)
01 January 2018
On opting out of Composition Scheme the registered supplier is eligible to take credit on the stock lying with him for which he should file the relevant return
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