Transfer from coposition to regular scheme
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 January 2019
can i registerd taxpayer take ITC on goods purchase during composition scheme period and such goods is as stock as on the date when he transfer from composition scheme to regular.pls also send me provision regarding this.
CA Ankit R Momaya
(Expert)
09 January 2019
Please refer Section 18(1)(c) of CGST Act, 2017 read with Rule 40 and 44 of CGST Rule, 2017.
The credit on Inputs and Capital Goods is available subject to certain restrictions and you will have to file Form GST ITC-01
The credit on Inputs and Capital Goods is available subject to certain restrictions and you will have to file Form GST ITC-01
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