trans1 for input gst credit

[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 .

AI Summary

Filing TRAN 1 Form Not Mandatory for Unclaimed GST Credit, but Declare Stock for GST Levy Decisions. A user inquired whether filing the TRAN 1 form is mandatory if they do not wish to claim GST credit on stock, including stock at a job worker's location. Three responses clarified that filing TRAN 1 is not compulsory if the credit is not being claimed. One respondent advised considering individual circumstances, while another emphasized the importance of understanding Section 140, which covers various credits. The final reply noted that while filing TRAN 1 is unnecessary if not claiming credit, declaring stock at a job worker's location is crucial for GST levy decisions.