Menu
composition to normal
I am a composition dealer running electronics business.. I want to switch to regulator taxpayer.. how will I get ITC on the unsold stock at the time of switching....my stock at present is 60lac
Replies (2)
You have to file Form ITC-02, giving details of stock available on date of conversion along with tax paid on such stock. the same needs to be certified by chartered accountant.
As per Section 18(1)(c) of CGST Act ,read with Rule 40 of CGST Act , can claim ITC on input on closing, stock by filing ITC .01 online on portal with in 30 days .
CA certificate is required if the credit claim is exceeding 2lac
CA certificate is required if the credit claim is exceeding 2lac
Recent Topic
- Due date of ITR for Option Trader
- Cancelled invoice entry
- Debt Mutual Fund Tax in New Regime
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
Related Topics
CAclubindia
