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whether Transition 1 form is filed if no ITC under old regime upto 30 june 2017???

ITC / Input 171 views 7 replies
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Article Assistant
38 Points Posted on 03 September 2017
Respected sir/mam,

Please help me in below issue:
i am existing dealer under VAT act. I have no closing ITC upto 30th june, 2017. But there is closing stock lying in my factory. Please let me know whether i have to file transition 1 form?????
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On 03 September 2017 at 15:01 Report
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SEO Sai Gr. Hosp.
211624 Points Posted on 03 September 2017

Yes........ if you wish to avail ITC of any VAT/excise paid over the stock.......

581 Reply
On 03 September 2017 at 18:22
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Article Assistant
38 Points Posted on 03 September 2017
thank you Dhirajlal for your reply.

Also please confirm if i have no closing ITC....but closing stock is lie in my godown....but no input remaining on such goods...bcs i had adjust that input to discharge my output liab...then i dont have to file transition form 1???
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On 03 September 2017 at 18:58
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SEO Sai Gr. Hosp.
211624 Points Posted on 04 September 2017

Simply........ If you do not wish to take ITC of any nature, as of previous tax regime...... no need to file Trans 1 form.....

581 Reply
On 04 September 2017 at 12:12
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Article Assistant
38 Points Posted on 04 September 2017
thank you sooo much sir for your valuable reply.
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On 04 September 2017 at 12:26
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Article Assistant
38 Points Posted on 04 September 2017
thank you sooo much sir for your valuable reply.
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On 04 September 2017 at 12:26
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SEO Sai Gr. Hosp.
211624 Points Posted on 04 September 2017

Most Welcome, Dear.....

581 Reply
On 04 September 2017 at 12:28
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59 Points Posted on 19 September 2017
I am a dealer of goods and received invoices showing excise duty,to avail the excise credit I filed tran1 and is there any requirement to file trans 2
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On 19 September 2017 at 00:47


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