Stock in medical shop

359 views 4 replies

Dear Experts.,

 

A medical shop running more than 10 years. But, No registered under State VAT Act.

Now, He/She get registration under State VAT Act on 30 th May 2017. He get Provisional ID & Password from GST.

My Question is.,

He have more stock on or before registration under VAT act. (Purchases after Registration Rs. 250,000 + Tax & Purchases Before Registration Rs. 750,000 + Tax).

Then, How to Treat above Stock & Input Tax  on GST...

Please reply....

Replies (4)
check bills and duties paid on purchase bills
Yes, He had the bills. But, Which tax ll be taken for GST ITC. After registration bills only or both bills...?

All Bills will be taken

All purchases before VAT registration would have been by retail bills. So in my opinion those retail purchases can't be shown with ITC in GST return. Only the tax paid against the tax invoices (after VAT registration) can be claimed as ITC.

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