What is ITC 01 and ITC 04? What’s difference between ITC 01 and trans-1?

What is ITC 01 and ITC 04? What’s the difference between ITC 01 and trans-1?

Asked on November 6, 2017 in Miscellaneous.
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ITC-01 is for persons who want to claim input tax credit in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock falling under section 18(1)(a) to 18(1)(d) of Cgst act, 2017. while ITC-04 is to be filled by manufacturers who sent their inputs and capital goods to job workers for further processing. tran-1 is different as Tran-1 is for claiming pre-GST regime credit i.e. before 01-07-2017.

Answered on November 6, 2017.
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Gen GST