Vat amt carry forward in gst
This query is : Resolved
SACHIN KARNAWAT
(Querist)
27 August 2017
D/SIR
DUE TO PREVIOUS YEAR LOSS
OUR VAT CARRY FORWARD AMT IS MORE THAN
OUR JUNE-17 CLOSING STOCK'S VAT TOTAL AMT
PLS GUIDE FOR SUBITION TRANS-1 IN GST.
NOW WHAT CAN I DO.
PLS GUIDE ME.
DUE TO PREVIOUS YEAR LOSS
OUR VAT CARRY FORWARD AMT IS MORE THAN
OUR JUNE-17 CLOSING STOCK'S VAT TOTAL AMT
PLS GUIDE FOR SUBITION TRANS-1 IN GST.
NOW WHAT CAN I DO.
PLS GUIDE ME.
KAVIRAJA ADDANGADI
(Expert)
27 August 2017
You can claim ITC by filling Tran 1.
TRAN-1 needs to be filed by every person having closing stock registered under GST, regardless of whether they were registered under the pre-GST regime or not. The criteria for filing here is the presence of closing stock held as on 1st July, and need to claim ITC on this stock.
Credit of tax paid under CST to be carried forward for closing stock along with details of Form-C, Form-H/I, Form- F
TRAN-1 needs to be filed by every person having closing stock registered under GST, regardless of whether they were registered under the pre-GST regime or not. The criteria for filing here is the presence of closing stock held as on 1st July, and need to claim ITC on this stock.
Credit of tax paid under CST to be carried forward for closing stock along with details of Form-C, Form-H/I, Form- F
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