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Claiming gst itc

ITC / Input 213 views 6 replies

One of my clients has changed constitution of his business from Individual to HUF after migration. So, a new GST RC was taken. Now, there are 2 registrations existing for a single concern. The new RC validity starts from 17th August. Now, my doubt is, can we file TRAN in the new HUF database and claim old VAT ITC? In case, if I have to file TRAN using the old one, then can I file GSTR 3B for july, in the old migrated individual account, and carry forward the total ITC at July end to the newly formed HUF account by filing TRAN? 

 

Replies (6)

No...

You Can't avail the stock to new RC...

Thanks for the reply Sir, but please suggest me any other way to claim that ITC..... Because it is a huge amount. Can't leave that easily

First of reply my doubts...
1. How to you change the constitution individual to HUF...?
2. If you changed What reply you get from portal...?
3. You get RC or PRC for the migration...?
4. The HUF firm is new registration or changed from individual...?

1. I am familiar that, the constitution cannot be changed. So. we applied for a new RC using the HUF PAN with the same trade     name.

3. Now there are two registrations existing for the same concern. One with the PRC which was generated after migration, and secondly, there is a new RC with the HUF pan for the same concern.

4. The HUF is changed from individual only, but since amendment of constitution is not possible, we applied for a new RC. So, practically, it is a new registration.

Hope I answered your doubts Sir.

Yes You are good...

1. You/Client run the first business (migrated) then claim the ITC.
2. Also run the HUF business...
3. When the PRC is converted into RC after few months you can move this business to HUF.
4. You can sell the old business to new HUF if it's available. Also you consider the above said way to any Advocates or near by CA....

Thank u so much Sir


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