10 October 2022
as per section 140 of the gst act-2017 states that the taxpayer who have taken new registration u/s 139 of the gst act not allowed to take the itc carry forward amount of the previous act in tran-1 under gst regime.i have received notice from gst office and he force me to reverse the amount,please advice me is he correct?i have received goods of invoice date 30062017 on 1july2017 and claimed input in trans-1.please advice me with thanks
10 October 2022
Sec. 139 of CGST act is for migration of existing taxpayers and not for new registration. ITC of the existing stock was available to migrating tax payers by following some procedures as mentioned below, and not to new registration. Refer: https://taxguru.in/goods-and-service-tax/ppt-transitional-provisions-governed-section-139-142-cgst-act-2017-form-tran-1-form-tran-2.html
10 October 2022
Respected sir, please advice me that notice is correct or wrong and i can not claim input of vat.i have not registered in vat and get new gst no. with thanks
CAclubindia
