Ministry of Finance recently issued a clarification regarding availability of credit on Transitional stock held as on the appointed date in FORM GSTR-3B, highlights of the clarification are as follows:

1. You have the option to claim credit of tax on transitional stock held as on the appointed date in FORM GSTR-3B itself, but for this you have to file TRAN-1 form by 28th August  2017. (POINT HERE TO NOTE IS THAT EVEN TRANS-1 FORM IS NOT AVAILABLE YET ON THE COMMON PORTAL)

2. You may claim credit of tax on transitional stock held as on the appointed date in FORM GSTR-3B only after you file TRAN-01 form, so in this case you may file your GSTR-3B between 21st August to 28th August 2017. (as new amended GSTR-3B will be available from 21st August 2017)

3. In case you chose to defer filing of TRAN-01 form, you have to file GSTR-3B till 20th August 2017.

4. In any case, Net Tax i.e. Output Tax including Tax under RCM for the month of July 2017 as reduced by Input Tax of July 2017 & further reduced by Transitional Credit (IF OPTED) has to be paid by 20th August 2017.

Relevant Press release is reproduced on below link:

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  1. Abhishek Singh says:

    Nice article sir.
    Kindly confirm sir whether we can claim the input credit of central excise and service tax paid under the pre-GST regime even if we are not registered under Central Excise and registered as “service recipient under RCM” in the Service Tax Rules. What the form, we need to fill for the same.
    Kindly confirm sir.
    Thanking you,

  2. Mohan says:

    1.Actual due date for filing of TRAN 1 , TRAN 2 is 30th Sept,2017 as prescribed earlier, is it right?

    2. If GSTR 3B of July2017 will be filed on or before 20th Aug,2017, then Transitional Credit from previous tax regime can be mentioned in GSTR 3B of Aug2017 in case TRAN1 or TRAN2 will be uploaded on or before 20th Sept 2017?
    Kindly reply me positively.

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November 2020