GST filing Mandatory form for new registration

The declaration form in ITC – 01 is required to be filed in the following cases:

When an application for GST registration is made within 30 days of becoming liable to pay GST. [Section 18(1)(a)]

When any person opts for voluntary registration. [Section 18(1)(b)]

When any person opts out of composition scheme but continues to be registered as a regular taxpayer. [Section 18(1)(c)]

When an exempt supply of goods/services becomes taxable supply. [Section 18(1)(d)]

It should be noted that ITC cannot be claimed if the person fails to file Form ITC – 01.

Types of input tax credit allowed

Input tax credit in respect of inputs held in stock on the cut-off date.

Input tax credit in respect of inputs contained in semi-finished goods on the cut-off date.

Input tax credit in respect of inputs contained in finished goods on the cut-off date.

Input tax credit in respect of capital goods on the cut-off date.

Originally posted by : Aakarsh Jain
	The declaration form in ITC – 01 is required to be filed in the following cases:When an application for GST registration is made within 30 days of becoming liable to pay GST. [Section 18(1)(a)]When any person opts for voluntary registration. [Section 18(1)(b)]When any person opts out of composition scheme but continues to be registered as a regular taxpayer. [Section 18(1)(c)]When an exempt supply of goods/services becomes taxable supply. [Section 18(1)(d)]It should be noted that ITC cannot be claimed if the person fails to file Form ITC – 01.Types of input tax credit allowedInput tax credit in respect of inputs held in stock on the cut-off date.Input tax credit in respect of inputs contained in semi-finished goods on the cut-off date.Input tax credit in respect of inputs contained in finished goods on the cut-off date.Input tax credit in respect of capital goods on the cut-off date.

I haven't any previous purchases. Is it mandatory to file itc 1 for itc on purchase after getting gst registration?

No you don't need to file ITC 01

No need to file ITC 1, you can take credit of future inputs according to GSTR 2A/B

Thank you all for clarification.

Yours welcome brother.😇