Dear Experts,
My Client has opted under composition scheme in GST. Still there is no Comp-3 Form Found in GST Portal but there is Transition Form under GST Portal. Whether we have to give details of stock in Trans 1 Form (if yes then where it has to be disclosed) or they will be seperatly issue new form (i.e Comp-3) in portal.
GST Composition Scheme Clients Not Required to File TRAN-1; Await Guidance on Stock Reporting Without Comp-3 Form. A client under the GST composition scheme is unsure about reporting stock details due to the absence of a Comp-3 form on the GST portal. Experts clarify that the TRAN-1 form is not applicable for those under the composition scheme, as it is intended for entities eligible for input tax credit based on prior returns. Since the composition scheme does not permit input tax credit, there is no need to fill out the TRAN-1 form. The client seeks further guidance on where to report stock intimation in the absence of the Comp-3 form. (AI Summary)
Goods and Services Tax - GST
TaxTMI 
TaxTMI 
TaxTMI 
