i deals in petrol diesel and lubricate oil and under existing law in covered in Rajasthan vat under composition scheme and after gst i covered in regular scheme of gst
my q is can i take benefit of input credit on stock as on 30 june 2017.
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firm transfer from composition scheme to regular scheme
Replies (4)
Yes you can take benefits from lubricants. Not, available for petrol and Diesel...
form trans 01 Applicable For
1. A registered person under old regime other than a person paying tax under composition scheme and has furnished the returns under the old regime
2. Where the registered person was providing/manufacturing both taxable as well as exempted service/goods under the old regime, ITC related to taxable supply.
1. A registered person under old regime other than a person paying tax under composition scheme and has furnished the returns under the old regime
2. Where the registered person was providing/manufacturing both taxable as well as exempted service/goods under the old regime, ITC related to taxable supply.
which form apply for take benefit
Opt out option for composition started.
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