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I have closing stock as on 30/06/2017 & i am dealing in trading steel parts...old vat rate was 6% nd not gst nd sgst are 6% individually..so can i take credit in gst @ 6% of closing stock in trans 1 form...
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vat @ 6% = sgst @ 6 %
sir give clarification....can i get itc credit in gst on closing stock @ 6%... for that whether i have to file trans 1 or not
You would have already taken VAT credit,( if it was a within state purchase),when you purchased the stock. No credit for CST even in TRAN 1. If you have any unutilized VAT credit before July 1st, you claim it in TRAN 1.
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