GST What is the ITC entitlement of a newly registered person?

Discussion in 'GST (Goods & Service Tax)' started by Raju Choudhary, Apr 18, 2017.

  1. Raju Choudhary

    Raju Choudhary Active Member Staff Member

    Ans. A person applying for registration can take input tax credit of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the day immediately preceding the date of grant of registration. If the person was liable to take registration and he has applied for registration within thirty days from the date on which he became liable to registration, then input tax credit of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the day immediately preceding the date on which he became liable to pay tax can be taken.
     
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