I am a VAT registered dealer(retailer) and migrated to GST. Opted Composition levy from 1-OCT-17. To file previous months returns I want to claim ITC on closing stock (30-06-2017). I have VAT paid invoices for past 12 months but not excise duty paid invoices.
1. Is it compulsory to get ITC on whole closing stock (i.e past 12 months) or as required by us, because past 3 months GST tax assessed is around Rs. 50,000 (both CGST n SGST) + some interest and late fee.
2. Which part to be filled in Tran-1?
3. Do I need to file Tran-2 every month after filing the Tran-1?
4. Filed GSTR-3b for July without ITC, is it possible utilize ITC in the month July( not filed GSTR1 for July)?
5. In future, any GST officer will come and audit the ITC claimed by me?
Please help me
Thank You
CAclubindia
