TaxTMI 
TaxTMI 
TaxTMI 
R/S
One dealer taken Reg. on Composition from 18/08/2017 and he withdraw ,composition from 01.04.2018 onwords. can he get inputs held in stock before 01.04.2018. if yes than which return fillied either ITC1/2/3 and what is last date for it.
Regarding ITC on stock held
m Bhagat
Dealer Exits GST Composition Scheme; Can Claim ITC on Stock by Filing FORM GST ITC-01 Within 30 Days A dealer who registered under the GST composition scheme on 18/08/2017 withdrew from the scheme on 01/04/2018. The inquiry concerns whether the dealer can claim input tax credit (ITC) on stock held before withdrawal and which form to file. According to the response, when a dealer exits the composition scheme, they can claim ITC on stock and capital goods held at withdrawal. They must file FORM GST ITC-01 within 30 days of withdrawal. A person under the composition scheme cannot claim ITC on inward supplies but may claim eligible credit upon transitioning to the normal scheme. (AI Summary)