Purchase RM - Out of State Sale FG - In West Bengal Status of ITC for both Raw Materials and finished goods
Sweta Agarwal (32 Points)
17 June 2017So, what will be the status of our ITC on Raw Material Stock and Finished goods stock held with us?
Sweta Agarwal (32 Points)
17 June 2017
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 17 June 2017
ITC can be carryforwd by uploading return. refer transition provision given u/s 139 to 142 of GST Act,2017.
You are allowed to carryforwd ITC on hand as on 01.07.2017