GST Lilability

146 views 2 replies
Business started 1st of July 2017
GST Registration number taken on 15th of July 2017.
From 1-15 July goods purchased with GST paid.
All lying at stock on 15th of July.
..
Now have 2 questions
1) is any manner to claim ITC on this stock as Tax invoice not have my GSTIN

2)
if say stock (100 + GST 12 )
and my sale Price is 115 with GST.

so how much GST I have to pay. ..
..
115/112*12 = 12.32

But I'm not able to claim ITC on stock then

As profit added is only Rs. 3 if no ITC is allowed.
Then GST payable =3/112*12 = 0.32
Can I do so.
If ITC not allowed.

Note. . Rate of GST 12%
Replies (2)
Input tax is allowable with revised tax invoices mentioning your GSTIN, of period 1 to 15 July

for any other assistance mail us at meghna @ syla.in


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