Itc balance

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2017 Dear Sir,
In one of my case, under VAT dealer purchase was @14.5% and Sale of same product was @2% against form C. Therefore his ITC balance was about 17 lacs on 30/06/2016.
Now I have following queries regarding this -
1. Whether my ITC balance will b/f in GST regime.
2. In which return or form I have to claim this ITC.
3. Whether I have to claim it in Form 3B ?

Please clarify.

CA. Vinodh Kothari

CA. Vinodh Kothari (Expert)
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11 August 2017 1. Whether my ITC balance will b/f in GST regime. >>> Yes ITC Balance will be brought forward in GST Regime
2. In which return or form I have to claim this ITC. >>>> You have to file Form TRAN 1 to claim the ITC as on 30/6/17
3. Whether I have to claim it in Form 3B ? >>> ITC as on 30/6/17 cannot be claimed in Form 3B. You will be eligible to claim that only after filing Form TRAN 1.

VK

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2017 Whether T R A N 1 can be filed right now?

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