Transfer from coposition to regular scheme

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 January 2019 can i registerd taxpayer take ITC on goods purchase during composition scheme period and such goods is as stock as on the date when he transfer from composition scheme to regular.pls also send me provision regarding this.

CA Ankit R Momaya

CA Ankit R Momaya (Expert)
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09 January 2019 Please refer Section 18(1)(c) of CGST Act, 2017 read with Rule 40 and 44 of CGST Rule, 2017.

The credit on Inputs and Capital Goods is available subject to certain restrictions and you will have to file Form GST ITC-01

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