Regarding transition form-1

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Tax consultant
53 Points Joined December 2012

I was a register Dealer under WB VAT act. In 1st Qtr return(2017-18) i have filed and pay the taxes( Output- Input). Now let my closing stock is 525630.00. Can i get ITC on GST or not?

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On 06 October 2017 at 12:52 Report
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Business and tax consultant
3299 Points Joined September 2017
yes you will get ITC in cgst if you have proper invoices
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On 06 October 2017 at 14:02
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155 Points Joined July 2017
kindly clear that what will we do if we not available any credit in return means vat adjusted against output vat.but we have large quantity of stock in our hands on 30-06-2017.can we get itc through trans 1 or not.
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On 06 October 2017 at 14:42
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"Do the Right Thing...!!!"
128147 Points Joined January 2015

Please see the link... You can get some clarity...

https://cleartax.in/s/gst-itc-transition-provision

 

 

Also see the Attachments

 

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On 06 October 2017 at 14:51
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Business and tax consultant
3299 Points Joined September 2017
yes for cgst you will get ITC if you have proper Ed paid bills otherwise you will get 60 or 40% cgst claim by filling trans2
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On 06 October 2017 at 15:21
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Business and tax consultant
3299 Points Joined September 2017
yes for cgst you will get ITC if you have proper Ed paid bills otherwise you will get 60 or 40% cgst claim by filling trans2
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On 06 October 2017 at 15:21


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