REGARDING TRAN 1 OR TRAN 2

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..... I RECENTLY REGISTERED WITH GST (PREVIOUS NOT IN ANY REGIME).. DOING JOB WORK OF TEXTILE CLOTHES WITH 5% GST.. AND HAVING CLOSING STOCK 30.06.2017 OF COLOURS OTHER MATERIALS WHICH USED IN DOING JOB-WORK PROCESS.. I HAVE FOLLOWING QUERIES .. 1. WHICH FORM SHOULD I HAVE USED TRAN 1 OR TRAN 2 IN TRAN 1 COLUMN SAID Whether all the returns required under existing law for the period of s .....

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..... ix months immediately preceding the appointed date have been furnished:- Yes/No AS I AM NEWLY IN GST SO... ?? 2. I HAVE BILLS FOR CLOSING STOCK SHOWING ONLY VAT NO EXCISE PORTION SHOWN.. SO WHICH ITC CAN I CLAIM.. VAT AND 60% / 40% (DEEMED CREDIT) 3. IN WHICH TRAN FORMS IN WHICH COLUMNS I HAVE TO FILLED. AWAITING VALUABLE REPLY FROM EXPERTS.. THANKING YOU.. - Reply By KASTURI S .....

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..... ETHI - The Reply = TRANS 2 :is applicable to you. You will get 40 % deemed credit. Whatever amount you show that you are entitled to, is subject to the approval by the System and the department. - Reply By NAREN KHATRI - The Reply = Thank you very much for your answer, sir.. but, sir, what about vat which lying in stock..and having vat paid invoices ?? - Reply By KASTURI SETHI - The Reply = .....

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..... In such you get full credit. Read TRAN-2 Form . - Reply By NAREN KHATRI - The Reply = Thank you very much.. sir.. for reply. But still confused.. with TRAN-2. Sir, will you let me now more about TRAN-2 for 100% VAT CREDIT.. - REGARDING TRAN 1 OR TRAN 2 - Query Started By: - NAREN KHATRI Dated:- 24-8-2017 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Kn .....

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..... owledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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