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Shifting from RCM to FCM in case of GTA (Goods Transport Agency )

1138 views 2 replies
Query 1: -what is purpose of filing the ITC 01? volountarily registered new tax payer is required to file ITC 01 compulsorily? If not filed taxpayer can claim future purchase, service and capital goods input?
Query 3:- from new financial FCM is adopted from the previous year RCM in case of GTA service provider, then we need to claim GST input on Closing stock on balance sheet end date(31st march) through form ITC 01?
Query 4:- if previous year such input is write off as Unclaimed, we can claim such
input now through ITC 01?
Replies (2)

1) ITC-01 is a facility whereby you can claim ITC on inputs which were in stock immediately before registration since now GST will be applicable on sale of such goods. If not filed then you forgo the right to claim benefit.

2) I don't think this situation is covered by section 18 (assuming GTA was previously registered)

3) Not relevant since section 18 not applicable (assuming GTA was previously registered)

Systematically may claim itc by us.But not follow such attitude by us.
1. credit ledger
2. Liability ledger
3.Cash ledger(Opt-Otc)-net Liability.


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