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?
tarunmunjal0001@gmail.com (12 Points)
22 August 2017
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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