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whether Transition 1 form is filed if no ITC under old regime upto 30 june 2017???

Deepanshu (Article Assistant) (38 Points)

03 September 2017

Respected sir/mam,

Please help me in below issue:
i am existing dealer under VAT act. I have no closing ITC upto 30th june, 2017. But there is closing stock lying in my factory. Please let me know whether i have to file transition 1 form?????

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7 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182065 Points)
Replied 03 September 2017

Yes........ if you wish to avail ITC of any VAT/excise paid over the stock.......

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Deepanshu (Article Assistant) (38 Points)
Replied 03 September 2017

thank you Dhirajlal for your reply.

Also please confirm if i have no closing ITC....but closing stock is lie in my godown....but no input remaining on such goods...bcs i had adjust that input to discharge my output liab...then i dont have to file transition form 1???

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182065 Points)
Replied 04 September 2017

Simply........ If you do not wish to take ITC of any nature, as of previous tax regime...... no need to file Trans 1 form.....

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Deepanshu (Article Assistant) (38 Points)
Replied 04 September 2017

thank you sooo much sir for your valuable reply.

Deepanshu (Article Assistant) (38 Points)
Replied 04 September 2017

thank you sooo much sir for your valuable reply.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182065 Points)
Replied 04 September 2017

Most Welcome, Dear.....

M R Ravi (59 Points)
Replied 19 September 2017

I am a dealer of goods and received invoices showing excise duty,to avail the excise credit I filed tran1 and is there any requirement to file trans 2