Regarding Input Tax credit
This query is : Resolved
19 July 2017
DEAR ALL,
GOOD EVENING
ACTUALLY I FILLED VAT RETURN TODAY WITHOUT SHOWING STOCK IN VAT RETURN SO CAN I FORWARD MY CREDIT? IF I WILL SHOW MY STOCK IN GST TRANS 1?
19 July 2017
Yes you can claim.
20 July 2017
Thank you mam but Mam in vat return I forget to show stock so still I can claim my credit in GST transition 1 form?
20 July 2025
Hey! About your query on VAT stock and claiming Input Tax Credit (ITC) in GST Tran-1:
Even if you forgot to show your closing stock in your VAT return, you can still declare and claim ITC on that stock while filing the GST Tran-1 form (the transitional credit reconciliation form).
GST laws allow you to claim eligible ITC on inputs held in stock as on the transition date (i.e., the day before GST rollout).
Just make sure that when you fill GST Tran-1, you correctly report your closing stock details with tax paid under VAT to claim the credit.
So yes, you can claim the credit in GST Tran-1 despite missing it in your VAT return earlier.
Even if you forgot to show your closing stock in your VAT return, you can still declare and claim ITC on that stock while filing the GST Tran-1 form (the transitional credit reconciliation form).
GST laws allow you to claim eligible ITC on inputs held in stock as on the transition date (i.e., the day before GST rollout).
Just make sure that when you fill GST Tran-1, you correctly report your closing stock details with tax paid under VAT to claim the credit.
So yes, you can claim the credit in GST Tran-1 despite missing it in your VAT return earlier.
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