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What is a credit transfer document? How can it help the traders?

A manufacturer may have cleared some goods

Traders are presently not entitled to take cenvat credit. They will be having duty paid stock as on 1st July, 2017. However, it is possible that the traders may not have duty paid documents in respect of such stock. Is there any scheme under GST, where such traders will be able to get credit of such taxes under GST?

Yes. If duty-paid invoices are available with them, then full credit of ITC

Will the compliance process under GST be complicated for traders under GST? What measures have been put in place to ease burden of compliance on small traders?

No. The compliance process will be automated and easy for traders.

Stock transfers have been made taxable in GST. Will it impact adversely?

The objective of taxing the stock transfers is just to ensure that the ITC moves

How will the stock transfers be valued?

In case the recipient is eligible for full input tax credit

The traders are not used to classify the goods under the HSN nomenclature and are likely to face hardship in this regard. How will they cope with it?

Taxpayers whose turnover is below Rs. 1.5 crores are not required

What if a trader/businessman is unable to undertake compliances under GST himself?

Under GST, the government will allow qualified

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