FORM GST TRAN - 1 (with revision facility) extended to 30th November 2017. Suitable order will be issued shortly.
F. No. 349/58/2017-GST
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
*** New Delhi, the 28th October, 2017
Order No. 08/2017-GST
Subject: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
In exercise of the powers conferred by rule 120A of the Central Goods and Services Tax Rules, 2017 read with section 168 of the Central Goods and Services Tax Act, 2017, and in supersession of Order No. 02/2017-GST dated 18th September, 2017, the Commissioner, on the recommendations of the Council, hereby extends the period for submitting the declaration in FORM GST TRAN-1 till 30th November, 2017.
As per the transitional provisions of CGST/SGST/UTGST Act, registered person can take credit of taxes or duties paid under existing State or Central laws, like Value Added Tax Act, Central Excise Act and Service Tax laws and carry them forward to the GST regime, if the same are eligible as CGST/SGST/UTGST credit, subject to conditions/ limitations as prescribed in the GST Act and rules. These transitional credits can be claimed through TRAN - 1 and TRAN - 2.
Every registered person who is eligible to take credit of eligible duties and taxes paid under existing laws in respect of input or input services or capital goods in his/her Electronic Credit Ledger, needs to file a declaration in Form GST TRAN - 1 within 90 days of the appointed day (1st July 2017) or as extended by the Commissioner after recommendation of GST Council.
Section of the GST Form TRAN 1
Relevant section of CGST/ SGST Act
Section 140(1) and 140(4)(a) of CGST Act
Amount of tax credit carried forward in the return filed under existing laws
Section 140(2) of CGST Act
Details of capitals goods for which unavailed credit has not been carried forward under existing law (section140 (2))
Section 140(3), 140(4)(b), 140(5) and 140(6) of CGST Act
Details of the inputs held in stock in terms of sections 140(3), 140(4)(b), 140(5) and 140(6)
Section 140(8) of CGST Act
Details of transfer of cenvat credit for registered person having centralized registration under existing law (Section 140(8))
Section 141 of CGST Act
Details of goods sent to job-worker and held in his stock on behalf of principal under section 141
Section 142(14) of SGST Act
Details of goods held in stock as agent on behalf of the principal under section 142 (14) of the SGST Act
Section 142(11)(c ) of CGST Act
Details of credit availed in terms of Section 142 (11 (c ))
Section 142(12) of CGST Act
Details of goods sent on approval basis six months prior to the appointed day (section 142(12))
Originally date was 90 days from 01.07.2017 i.e 28.09.2017 then it has been extended to 31.10.2017.& now it has been extended again to 30.11.2017