https://www.taxtmi.com/forum/issue?id=112928 Input tax credit for pre-GST closing stock must be claimed in transitional statements: TRAN-1 for previously registered taxpayers with invoices evidencing excise duty and TRAN-2 for newly registered persons. Branch stock transfers manufactured and dispatched under stock-transfer invoices are treated as duty-paid and may qualify for full credit if supported by duty-paid documents. Where invoices are absent or goods are exempted but contain duty-paid inputs, a deemed credit mechanism (commonly 40% or 60%) applies. All TRAN-1 and TRAN-2 claims are subject to departmental scrutiny and limitations where GST rates on final products differ from earlier duty rates. en-us Mon, 09 Oct 2017 21:30:59 +0530 Thu, 23 Jan 2025 15:55:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112928 Input tax credit for pre-GST closing stock must be claimed in transitional statements: TRAN-1 for previously registered taxpayers with invoices evidencing excise duty and TRAN-2 for newly registered persons. Branch stock transfers manufactured and dispatched under stock-transfer invoices are treated as duty-paid and may qualify for full credit if supported by duty-paid documents. Where invoices are absent or goods are exempted but contain duty-paid inputs, a deemed credit mechanism (commonly 40% or 60%) applies. All TRAN-1 and TRAN-2 claims are subject to departmental scrutiny and limitations where GST rates on final products differ from earlier duty rates. Discussion-Forum GST Mon, 09 Oct 2017 21:30:59 +0530 https://www.taxtmi.com/forum/issue?id=112928