(GSTmitra-Series-8) Transitional Provisions related to Stock in hand under GST

Case 8: Trader not registered under any of current laws now registered under GST

β›³ VAT in respect of raw materials, finished/ semi-finished stock held on 30th June, 2017
🌴 Credit of VAT allowed (Conditions-Used for Taxable Supplies, Eligible for ITC in GST).
🌴 Duty paying documents/ Possession of invoice are essential.
🌴 Date of issue of such invoice must be on or after 1st July, 2016.
🌴 GST FORM TRAN-1 to be filed by 28th Sep, 2017.
🌴 The GST FORM TRAN-1 to contain details about the stock held on 30th June, 2017 and about the credit claimed.
🌴 Opening Credit as on 1st July 2017 shall be shown as SGST.

CA. SHARMA Praveen
GST Trainer & Consultant
+91 9871530610, 8383073005