S. Maheswaran. B.Sc., B.L., Superintendent of Central Tax & Central Excise, Chennai
The time limit for filing GSTR TRAN -1 has been extended upto 31.10.2017. Through this article an attempt is made to explain the types of credits/ stocks for credits that are eligible for posting in TRAN -1 and it is pertinent to note that all the instant tax credits (not stock credit) should be supported by the valid duty paying documents.
| Sl No. | Category of credits/ Stocks | Relevant Section of CGST/ SGST Act.,/CGST Rules | Relevant table in TRAN -1 | Remarks |
| 1 |
Credit carried forward in the last return filed (Central Excise/ Service Tax) |
1) 140(1)
2) 140(4)a
3) 140(9) |
Table 5(a) | 1) Carried forward credit in the last return by the existing Registered person
2)Carried forward credit in the last return of the registered person engaged in the manufacture of both dutiable and exempted goods 3)Input services credit reversed due to non payment of consideration and subsequently become eligible on payment of consideration |
| 2 | C/F/H /I Form details | Table 5(b) | Form amount with applicable VAT rate to be furnished category wise. | |
| 3 | Credit carried forward in the last return filed(VAT) and eligible Form C/F/H/I Credits. | Table 5(c) | In respect of all registrations on the same PAN and in same state | |
| 4 | Un availed credit on capital goods not carried forward in the last return (Central Excise/ Service Tax) | 140(2) | Table 6(a) | Including CVD paid on imported capital goods. |
| 5 | Unavailed credit on capital goods not carried forward in the last VAT return)
|
Table 6(b) | In respect of all registrations on the same PAN and in same state | |
| 6 | Details of inputs/ inputs contained in semi finished / finished goods held in stock | 1) 140(3)
2) 140(4)(b) 3) 140(5) 4) 140 (6) |
Table 7(a)
|
Amount of duties and taxes on inputs claimed as credit excluding those under table 5(a) |
| Table 7(A) | Duty paid invoices available including CTD documents for both inputs and inputs contained in semi finished /finished goods
TRAN-3 to be filed separately. |
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| Proviso to Section 140(3) read with rule 117(4) of CGST Rules | Table 7(B) | Inputs i.r.o.no duty paid documents are not available (applicable to persons other than manufacturer/service provider )
TRAN-2 to be filed separately for 6 tax periods from the appointed day to avail the eligible credit as per rule 117(4) of CGST Rules. |
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| 7 | 1) Credit on goods/ services received based on existing invoices but received within a period of 30 days of appointed day
2) ISD invoices received after appointed day for services received prior to appointed day |
1)140(5)
2)140 (7) |
Table 7(b) |
C.Ex/S.Tax/VAT
|
| 8 | Credit on VAT/ Entry Tax paid on inputs Supported by invoices | 1) 140(3)
2) 140(4)(b) 3) 140(6) |
Table7(c) | |
| 9 | Stock of goods not supported by duty paying documents | Credit in terms of proviso to Sec. 140(3) read with rule 117(4) of CGST Rules | Table 7(d) | (To be there only in states having VAT at single point)
|
| 10 | Transfer of credit for person having Centralized registration.
|
140(8) | Table 8 | |
| 11 | Details of goods sent as principal to the job worker | 141 read with rule 119 of CGST Rules | Table 9 (a) | |
| Details of goods held in stock as job worker on behalf of the principal | Table 9(b) | |||
| 12 | Details of goods held as agent on behalf of the principal | Sec. 142(14) of SGST Act | Table 10(a) | |
| Details of goods held by the agent | Table 10(b) | |||
| 13 | Proportion of supply on which Value Added Tax or service tax has been paid before the appointed day but the supply is made after the appointed day, and the Input Tax Credit admissible thereon | 142 (11)(c) read with rule 118 of CGST Rules | Table 11
|
|
| 14 | Details of goods sent on approval basis six months prior to appointed day | 142(12) read with rule 120 of CGST Rules | Table 12 |
I AM AN IMPORTER AND HAVE STOCK ONLY IMPORTED OUT OF INDIA…WHICH ALL FORMS NEEDS TO BE FILLED FOR TRANSITIONAL CREDIT ? cOULD YOU PLEASE LIST…
ALSO BELOW QUERY :
1. DUTY PAID IS CVD OR SAD ALSO ?
2. HOW MUCH % OF CVD IN CGST AND HOW MUCH % OF SAD + ENTRY TAX CAN BE CLAIMED IN SGST ?
sir,
for all the gst registrants trans 1 filing date is insufficient why means of statutory forms collections for 2 years and three months,if the council extends the date till 30th nov. will be good
otherwise by submitting a declaration on bond paper availing duty itc is to be permitted/ or c.a. certification to be permitted.