Closing stock

271 views 1 replies

We are a SSI Manufacturing Unit in West Bengal  Not holding any Service Tax Number, Excise Number, only Carry VAT, CST,P.Tax,ESI,PF etc. Number. We always VAT,CST Paid not Carry Forrward in any month ,Last Month June,2017 We also paid VAT 80173.00,CST 15020.00. 

Now my Question is 

1) What is the process to MIGRATE/TRANSFER  CLOSING STOCK as on 30/06/2017 from   VAT to GST .

2) It is Compulsary for our unit .

3) Which is the time limit in GST Website for STOCK Transfer VAT to GST  & Process also clarify

 

Replies (1)

If there is no ITC available in your last VAT return then there is no ITC claim for SGST. 

However, you are elligible for ITC for CGST on the value of closing stock as on 30.06.2017. The calculation would be as follows;

60% for the cases which attracts 9% CGST in all other case 40%

 

Time limit for claim is 90 days from 01.07.2017.

 

You need to fill the form TRAN-1 with HSN code.

 

 

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
06 July 2026
C.A./CA Inter OR pursuing C.A./GST/Accounts/Audit/IT - Head

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details