TRAN 1 QUERY

This query is : Resolved

Yuvitha (Querist)
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25 August 2017 Dealer is a registered person in vat now in gst also... No Interstate transactions.. Has excess ITC for June month under vat.. Is he required to show details of stock held in TRAN -1???? If so where??? Kindly consider this and give your suggestions.. Thanks in advance...

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 August 2017 Yes. you need to fill the details in Details of the inputs held in stock -7(a), 7(b), 7(c), 7(d) in the form GST-Tran-1

Yuvitha

Yuvitha (Querist)
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25 August 2017 what if we didn't provide stock details???? is there any option to revise TRAN 1?? Here we have filed it without stock details....

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 August 2017 Revision of Transitional returns no provision as of now. if you have claimed ITC without declaring stock there is chance of clarification from the department that time you have to amend the same

Yuvitha

Yuvitha (Querist)
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26 August 2017 okay sir... thankq... stock details should be shown under 7d right???

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 September 2017 Yes. need to show 7d