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Trans-1

147 views 2 replies

Nidhi Prajapati

Accountant

109 Points Joined June 2017

Hello Experts,

Plz explain TRANS-1 applicablity for pvt. ltd. company if i have stock on 30.6.17, 21 lacs and its input already taken in vat so its necessary to fill TRANS-1 bcoz when i sold it then i will charge gst, which is higher then vat rate. Its very confusing plz help.

Replies (2)

B Vinay Reddy

Hyderabad

7952 Points Joined October 2014

GST TRANS 1 should be filed only if you want to avail Input on stock lying on 30th June

Shankar Sharma

510 Points Joined September 2016

@ Nidhi . You have already taken credit in VAT system. So you cannot claim ITC again. If you have unused VAT credit as on 1st July. You can carry it forward by entering relevant tables in TRAN 1 and filing it.