https://www.taxtmi.com/forum/issue?id=112591 A dealer electing the composition scheme cannot claim or carry forward input tax credit on pre-GST VAT-paid closing stock; if valid pre-GST invoices exist, one view holds no further tax is payable on subsequent sale of that old stock, while another view requires GST to be paid on closing stock at transition with no ITC. Returns of goods supplied before transition by unregistered persons may follow a refund route for duties paid, whereas returns by registered persons are treated as supplies. en-us Sat, 12 Aug 2017 16:38:58 +0530 Thu, 23 Jan 2025 15:55:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112591 A dealer electing the composition scheme cannot claim or carry forward input tax credit on pre-GST VAT-paid closing stock; if valid pre-GST invoices exist, one view holds no further tax is payable on subsequent sale of that old stock, while another view requires GST to be paid on closing stock at transition with no ITC. Returns of goods supplied before transition by unregistered persons may follow a refund route for duties paid, whereas returns by registered persons are treated as supplies. Discussion-Forum GST Sat, 12 Aug 2017 16:38:58 +0530 https://www.taxtmi.com/forum/issue?id=112591