How and when to file GST TANS 1?
If the stock is exempted under pre-gst regime, Is input tax credit would be available on such stock held on appointment date?
Is it required to file the previous 6months return on time to take the ITC on old stock?
Yes, you have to file TRAN2 form under 2 options;
1) if you have earlier 1 year Excise tax paid invoices- ITC available
2) if you dont have any invoices- you may 60-40% ITC, after payment of GST on output, you will get refund of ITC upto 6 months- you have to close your old stock in 6 months.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
