Menu
ITC on goods that are in stock
can i get itc of those goods which are already in my stock,which i purchased before taking registration?
Replies (7)
Quick Summary
NO. Since u didn't had GST registration at that time, u were an unregistered dealer. U can only claim ITC if ur seller file his GSTR 1 returns with ur GST number. Since he didn't, u can't claim ITC on them
No you cannot take ITC for such goods
Section 18 sub section (1) by filing ITC 01 within 30 days after granting approval of GST. One year prior to grant registration.
Agree with Mr Murtaza Bhagat. However, you will not get ITC on capital goods bought before GST registration.
Agree with Mr Murtaza Bhagat. However, you will not get ITC on capital goods bought before GST registration.
No, you cannot get itc of those goods which are already purchased before GST registration
Please read section 18(1) for those who get registration after crossing threshold limit and want ITC on purchases where they paid GST and not getting ITC due to not having GST Number. ITC01 is the form in which they can transfer those 1 year ITC to their credit ledger and they can utilize in they outward liability after getting registration.
Recent Topics :
- TDS on property
- Company data for software
- Car purchase to be eligible for ITC
- GST Refund on payment to builder
- TDS u/s 194Q on electricity supply by DHBVN etc.
- Subject: Can I Apply for Fresh GST Registration on
- Additional place in GST RC
- Company 3 months old, INC-20A not filed, all 3 of
- How do I choose the Best GST Lawyers in New Delhi
- Loss on sale of residential flat after indexing al
Related Topics :
CAclubindia
