if we have paid the vat tax to gov for the month June, it means we haven't credit balance of vat credit . but we have approx 50 lakh stock balance.
please suggest should we have to file transfer 1 or not
regards
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tran 1 is compulsory?
Replies (12)
plzz file TRAN form to get input of VAT as SGST
you can't get sgst input when you have already claimed only cgst you can get
cst purchase is not creditable naa. should I have to file tran1 or not
What kind of business you are doing
stationery
Ok do you have excise duty paid bills
no I have not
What is the tax in vat and now what's the tax in GST
maximum item comes under 14.5 in vat and GST 12%
Then no need to file tran1
thanks , but what to do with stock
nothing to do just sell it on profit you are the lucky one
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