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🙏🏻😊
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stock treatment as on 1.7.17 under GST
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
* 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
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