sir,
Is there any procedure to file trans-1 now on closing stock(stock amount is RS.10cr).we can make application to our officer?is there any power to GST officer to give manual credit?
7 Replies
Narayan Shivhare
(204 Points)
Replied 26 August 2018
No ,,,,only way is that your should make closing stock nil,,, in old laws
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 27 August 2018
You can carry that stock to GST regime , the taxpayer who have not file tran1 doesnt mean that he is having Nil , moreover it was optional if want to take credit on stock
Narayan Shivhare
(CA)
(64 Points)
Replied 28 August 2018
if you shows old stock in GST than you have to give full gst at the time of sale without transition credit.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 29 August 2018
YES CORRECT, BUT ITS NOT COMPULSION OF CARRY NIL STOCK IF ONE HAS NOT FILE TRAN1
Keval Gandhi
(11 Points)
Replied 29 August 2018
my query is i want to take credit of that stock.Now it's there any manual procedure to file trans-1?my credit is nearly 30lakh
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 31 August 2018
NO DEAR , NOW CANNOT FILE TRAN 1 & THERE IS NO ANY OTHER WAY TO TAKE CREDIT ON STOCK
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