regarding deemed credit under gst
tarunmunjal0001@gmail.com (12 Points)
22 August 2017
stock received against F form and lying on 1st july 2017.whether credit will be avaliable?
1 Replies
upasana gupta
(Finance Professional)
(3931 Points)
Replied 22 August 2017
Yes you can avail the itc,Forms Required for Transition of Input Tax Credit are Tran 1 and Tran 2 The Form TRAN-1 needs to be filed by every person having closing stock registered under GST, regardless of whether they were registered under the pre-GST regime or not. The criteria for filing here is the presence of closing stock held as on 1st July, and need to claim ITC on this stock.
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