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Composition to Regular
When a supplier leave Composition and join Regular, then he claims input his previous stock of goods which he had purchased Composition supplier
Replies (5)
Yes, you are eligible for input tax credit on inputs held in stock and inputs contained in semi-finished or finished goods held in stock as on date on which you have converted yourself from composition scheme to regular scheme.
What is the query ,....U claim ITC on stock ...fine
what form is to be used to claim input tax credit and is der any time limit
FORM ITC 01......ON PORTAL, LIMIT IS 30 DAY FROM THE DATE YOU SWITCH OVER
Yes, agree with Pankaj ji.
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