Input tax credit
This query is : Resolved
Vijay Singh
(Querist)
28 May 2019
in order to reduce tax burden i was opted composition scheme for my ujjawala dealership (lpg) but our head office asked to switch to regular scheme and now payement is released and now i have no input tax credit to pay GST tax liability associated to payementT received. what shoud i do now please guide.
Message likes :
1 times
29 May 2019
on switch over from composition to regular scheme you can file ITC-02 within 30 days of opting out of composition. and claim ITC in respect of inputs held in stock.
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