A very hot topic of discussion now a days under the proposed GST regime is the availability of INPUT TAX CREDIT to the registered person on the appointed day and the procedure to claim such ITC under the proposed GST regime.
Section 140 to 142 under the CGST Act 2017 and respective sections under SGST laws along with DRAFT Transition Rules determines the availability and procedure to claim carry forward of ITC to the proposed GST regime. CGST Act has been passed by the union government but some states are yet to pass their SGST bills.
Two forms GST TRAN-1 and GST TRAN – (no number provided yet) have been prescribed to be filed under GST to avail such ITC, but no format of such form has been provided yet. Also the Transition Rules are still Draft Rules i.e. not finalized yet by the government.
So there is lots of ambiguity regarding such Input Tax credits, however we can’t wait for the legislature to finalize these Rules & Forms, because though these forms have to be filed within 60 days of the appointed day, but the registered person has to pay tax under the GST regime latest by 50th day of the appointed day.
So an attempt has been made to provide a ROUGH draft of GST TRAN-1 form. This will not only provide the conceptual clarity about the provisions of carry forward ITC into the GST regime, but the registered persons may also use this format to prepare the information required to carry forward such Input Tax Credit to the proposed GST regime.
You may click here to download this DRAFT form GST TRAN-1.
Please provide your suggestion to update this form and make it more useful.
Suggestions are invited at khatrimithun@hotmail.com
Disclaimer:
This article includes general information about legal issues and developments in the proposed law of GST in India. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and must not be taken, as legal advice on any particular set of facts or circumstances.
We disclaim all liability in respect to actions taken or not taken based on any or all the contents of this article to the fullest extent permitted by law. Do not act or refrain from acting upon this information without seeking professional legal counsel.
Author Bio
SIR
I fdealer only a vat registered and not have input credit in his 30 06 2017 return ,then it compulsory to file gst tran 1 form.
Sir I am vat registration delar befor gst implement.i have no input credit in Vat Return of 30 june 2017.
so it is compulser to me to file tans 1 form.
pls suggest to me whose to file Trans 1 form & whose not.
How old the stock can be to claim transition benefits? We have duty paid imported stocks of more than one year old also with bill of entry as proof of having paid CVD. Can we get transition benefit?
Under existing law of Service Tax, we have paid service tax on GTA and Man Power supply under RCM on 05.07.2017 for the month of Jun.2017. My query is how to enter and avail credit in TRAN-1 in GST. under Sec.142(11)(C). Which is the base to avail credit either suppliers bills or payment challans under RCM by us.
Sir,
Iam a Vat registered dealer and Iam having stock of excise duty paid bill so in which colum I have to enter the value so that I can get the excisevalue
If ‘X’ party of Delhi purchase the material from ‘Y’ party of Uttrakhand. Billing from ‘Y’ party in the name of ‘X’ party & delivered to ‘Z’ party. ‘X’ party entered same bill as a purchase in their books & sale to ‘Z’ party.
In this case ‘Z’ party will have to file way bill in the name of ‘X’ party or ‘Y’ party.
we have wrong sumit gstr-3b .
actual tax libilety Rs.14856 but Rs. 685152 \-show in gst protol
Can i make 14856 payments ?
Hi,I am unable to avail cenvat credit of imported supplier in respect of Inputs and capital goods because of GST TRAN-1 7(A) in column no.4 (Supplier Res.no.under existing law) which reg no mention in case of imported purchase.
Pls advice us
form gst trans1 how to complete
OK
Dear sir send me a soft copy Form Trans-1
Sir ,if i have multiple stock ledger in tally so how can i fill trans 1 form with all hsn code wise summry
Sir, I have submitted GSTR 3B with mistake and therefore a huge demand payable but actually my ITC carried forward to the next month. Can I file GSTR 1 without filling of GSTR 3B
whether TRAN 1 could be filed multiple times.
I Have One doubt ..? GST Trans 1 form filled and Where it submite , i have confusion
HOW WE WILL DOWNLOAD GST FORM TRAN-01 PLEASE PROVIDE THE PROCESS
Respected , I am unable to download GST Form Trans-1 Pl send me my email id
Respected , I am unable to download GST Form Trans-1 Pl send me my email id : unit2@bwipins.com
SIR PLZ SEND EXCEL GST FORM TRAN-01
WE ARE RE-SELLER/TRADER. WE IMPORTED GOODS FROM CHINA BY PAID CUSTOM DUTY ON JUNE 2017. CAN WE ENJOY INPUT CREDIT FOR CVD WHICH IS PAID CUSTOM PAID CHALLAN. WE HAVE NO EXCISE REGISTRATION BECAUSE WE ARE NOT MANUFACTURER. IF YES , THEN WHAT % i.e., 10%, 12.50%,2%, 1% OR 4% MENTIONED IN CUSTOM DUTY PAID CHALLAN FOR ENJOY INPUT TAX CREDIT
HOW TO FILL GST TRAN 1
WE HAVE INPUT TAX CREDIT FROM PURCHASED WAS CAPITAL GOODS.
CARRY FORWARD FROM JUNE – 17 ER – 1 RETURN .
unable to down load Tran 1
pls send me also
Sir we registered under excise earlier and availing cenvat credit now post gst we have come to know that we have availed short credit in ER 1 filed upto Jun .17. Now no option is there for revision after calender month ends.
Can we avail now such un availed portion of credit of under transitional provision or rules.
Please send us Trans-1 soft copy
sir ,
i was not vat dealer past because our goods taxable at source (fertilizer) now sir i am a regular gst dealer
we have 20lakh old stock with paid vat with invoice and excise not shown in invoice sir how ican fill up tran1 and what is % input available byme and how calculate
please send me TRANS-1 old stock form
how can download and fillup Trans1 and Trans 2 form
Respected Sir,
Please Send me GST TRN1 old stock form
thanks
where can i get GST FORM TRAN-01
what is the gst rate on freight paid
Respected , I am unable to download GST Form Trans-1 Pl send me my email id : puranraika4u@yahoo.com
REQUIRED GST FORM TRANS-1 FOR STOCK
REQUIRED FORM TRANS-1 FOR STOCK
Dear SIr., Please clear my Doubt…. If a assessee have Stock Rs. 1500000/- No more ITC Available. Then How to shown in TRAN1 although the purchase invoices of this remaining stock shows the amount of exise paid. is any aplication tool for calculating and feeding these excise paid Tax invoices to get tax credit?
we have excess input VAT credit more than VAT paid for stock available because of purchased at higher VAT rate and sold to concessional VAT rate as Industrial Input. can we carry forward the VAT credit available more than the stock available?
Dear SIr.,
Please clear my Doubt….
If a assessee have Stock Rs. 150,000 /- No more ITC Available. Then How to shown in TRAN1
gst implimentation
Hi, I am unable to download GST FORM TRAN-01
good