banner_ad

stock treatment as on 1.7.17 under GST

296 views 7 replies
client has stock without any input credit of taxes as on 30 June 2017

my querry is

1) when all input credit has been utilised till 30 June, still input credit may be claimed

2) how to show opening stock as on 1.7.17 in trans1

3) do client still has to show all cform, f form details in trans1

4) is client has to pay RCM on the stock (becos of no input credit as at 30.6.17)



please advise🙏🏻😊
Replies (7)
your claint already utilised the ITC so he cannot claim again. if claimed again he will be penalised under the law
reverse charge will not be levied subject to proving that the good s held with him was out of purchases ade from from regd. dealers and ITC was utilised nothing to worry whether he has no ITC as o 30.6.17
thanks dear for your valuable guidance 🙏🙏
need some more inputs if you may please
* under which section or rule he has not to pay GST on the stock ( with no input taxes)

* some of the purchase were made against cform so does RCM applicable


need some more inputs if you may please
no rcm is applicable if purchases against c form and accounted for in books of accounts
thanks a lot for your valuable advice


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details