Ujjwal Chakraborty (Sr. manager) (3 Points)
26 July 2017I am a little confused over a stock. We were unregistered for VAT as the turn over was below 5 lacs. On 15th June we crossed 5 lacs turnover and we got GST registration by 12th July. Can we charge GST on the materials purchased before GST registration?
Mr Subrata Dasgupta
(Finance Professional)
(171 Points)
Replied 26 July 2017
Yes you can. Also you can get the input credit of taxes paid in the earlier regime if you have the invoices and and other documents to prove payment of tax. You are required to file TRANS-1 for the same by Sept 2017 to get the benefit
Ujjwal Chakraborty
(Sr. manager)
(3 Points)
Replied 26 July 2017
Thanks for the reply. Got the details of the necessary forms and the time limit. Another little confusion. See the scenario as tax percents have changed:-
How does it work out?
CAclubindia
