My client was selling tax free item under old VAT regime, he had a stock of approximately 2lac of such goods. Such stock is taxable under GST @ 5%.
Can he get any ITC on stock held on the date of appointment.
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ITC on Stock
Replies (8)
If your client paid any tax on purchase of raw materials then he ll get ITC ON the same.. After filling GSTR TRN 1 FORM
Sir,
my client is a trader trading in exempted goods under old tax regime, but in GST such goods are taxable @ 5%.
my client is a trader trading in exempted goods under old tax regime, but in GST such goods are taxable @ 5%.
in which last dste gst trn 1
30sept
It may extend. Bcoz GSTN Portal is not yet fully operational, they have not enabled any form as of now
No. If tax given at VAT stage, then you are eligible to get ITC in GST otherwise you could not get any ITC.
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