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Registration details

28 January 2020

I am started business on 1/7/18. RETAIL BUSINESS OF DRESS SHOP.
I want registered gst now, because of my customer and my supplier fource and I don't cross threshold limits for registration. my doubt is if I registered now can I get ITC on my before purchase of goods n services.
and would I pay gst on my previous sales of goods
plz help me.

and I don't want to visit any CA or any professionals.

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10 Replies

Anup Agarwal (1184 Points)
Replied 28 January 2020

Mr. Sagar Tatti,

You can avail ITC on the goods which are available in your stock as on the date of registration.
no liability shall be raised for your previous Transportations.

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Chandu Chowdary (58 Points)
Replied 28 January 2020

Dear Sagar,
As you are registering voluntarily you cannot claim itc for previous purchases and no need to pay output tax for previous sales.

1 Like

Anup Agarwal (1184 Points)
Replied 28 January 2020

Dear Chandu Chowdary,
Please read section 18(1) of CGST Act.

according to section 18(1)(b) - A person who has applied for registration under section 25(3) i.e. voluntary registration shall be entitled to take credit of input tax in respect of inputs held in stock and inputs contained in semi finished or finished goods held in stock on the day immediately preceding the date of grant of registration.

Hence Mr. Sagar can avail ITC on goods only that are held into stock on the day immediately preceding to the date of registration.

1 Like

Chandu Chowdary (58 Points)
Replied 28 January 2020

Dear Anup,
As you said it is correct but he don't want to visit any CA.For taking ITC on stock he has to value his stock as on immediately preceding the date of grant of registration for that CA signature has to be there that's y i told in that manner.