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TRANs 1

Faheem Akram (802 Points)

26 August 2017

who is required to file TRANS 1,2 & 3
we were not ragistered under VAT or any other existing law

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Md Abdul Hakim (Student) (67 Points)
Replied 26 August 2017

Generally You are not required to file TRAN1,But if you want to take credit of input with respect to stock of appointed date ie; 1st July 2017, then you can file TRAN1 (Table No-7A, 7B,7C) and get credit even thought you were not registered person under existing law, kindly refer provision u/s 140(3),140(4),140(6) in detail

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Faheem Akram (802 Points)
Replied 26 August 2017

how to show our stock detail.....my stock was tax free item now its become taxable

Md Abdul Hakim (Student) (67 Points)
Replied 26 August 2017

sir plz understand,ITC means tax paid in input(purchase),if you had purchased exempted item so tax was not paid, therefore not a question of ITC, so you need not to file GSTR TRAN1 ok