trans1 for input gst credit, Goods and Services Tax - GST

[pawan singhal]

if client dont want to to take gst credit on stock . is it compulsory to submit trans 1 form for gst credit . although he have closing stock. if he have stock at job worker place is it compulsory to file trans 1 form for giving information about stock at job worker place. in both case he dont want to take credit .

Posts / Replies

[KASTURI SETHI]

If you do not want to transfer your credit balance as on 30.6.17, you need not file TRAN 1. It is your option. You are to see your circumstances. It is not mandatory.

[RAMESH PRAJAPATI]

Section 140 deals with all credits including stock, JW, VAT credit , Cenvat , 50% credits of capital goods, goods in transit etc. So option of non-filing of TRAN-1 should be exercised carefully.

[Himansu Sekhar]

No need to file tran1 if the credit will not be taken. For job work, styocvk declaration is essential for deciding thee ledvy of gst