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: