Yes you can claim ITC if you are registered under compulsory Registration.
Query on GST for job work
Hi , Please let me know if the following scenario is feasible to claim ITC : 1). If I go purchase input goods (invoice is procured) for my business on 1st september 2017, when I am unregistered , and send those input goods for job work (under a cover of challan) 5th september 2017 still being unregistered , and register my firm on say 20th september , then can i claim ITC for the GST paid on purchase of input goods and gst paid on job work service ( say the receipt of finished goods happen on the date after procuring a business Registration).
Asked 6 years ago in GST
Hello,
You will have to provide input stock details lying with you as on the date of registration to claim the ITC on the same.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, FCA, LLB, CERT. FAFP
Yes, ITC can be claimed.
Hi,
Yes, ITC can be claimed provided your vendor upload the details under your GSTN.
As per section 18(1) of CGST Act, If you are volunatry registering (Not required as per law, but registering by law) then you will get the credit on the input tax in respect of the inputs held in stock on the day immediately preceeding the date of grant of registration
However, if a person has applied for registration under the Act within 30 days frrom the date on which he becomes liable to registartion and has been granted RC, he shall be entitled to take input tax in respect of the inputs held immediately preceeding the date from which he becomes liable to pay tax under the Act.
Hope this will clarifies your query.
For registering a sole propeietorShip , GST registration is enough ? And if I do it myself through the gst portal , the pan associated to me has to be given for the business . But The business name would be the name associatr with the pan that i provide . What to follow in case I wish to have a particular legal business name ? I am planning on registering directly o the gst portal .
Asked 6 years ago
You can give your trade name in trade name column. Its not necessay to have your name only. If you want i can assist you in registration returns and all other compliances
While filling part A Mention your name as business name
While filling part B in trade name fill your desire firm name
Hi
Specifying a legal name to business is not mandatory for GST registration in case of sole proprietorship concern.
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