Composition to normal scheme
I had shifted from composition to normal scheme in GST on 1st april 2018. Whether i need to file gst itc-01 form for taking input credit. Is it compulsory?
As per Rule 6 sub rule (3) GST CMP 04 shall be filed before the withdrawal the scheme and as per Rule 6 sub rule (6) GST ITC- 01 may be filed containing the details of Stock .
The wording of Law itself says that GST ITC 01 is a optional for taxpayers for claiming the Input Credit Tax of Stock as on date.