Whatever ITC paid on the existing stock (upto 12 months old) would be carried forward in the last VAT return filed before appointed day of implementation of GST. The same will be transferred to your GST electronic ledger, provided you have successfully migrated to GST. . So, that you will not loose any earlier ITC over stock.
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
