Hello readers, we all know The Hon‟ble Supreme Court of India vide order dated 22.07.2022 in the matter of Union of India vs. M/s. Filco Trade Centre Pvt. Ltd., SLP(C) No. 32709-32710/2018 have allowed the aggrieved taxpayers to file form TRAN-1/TRAN-2 or revised the earlier filed TRAN-1/TRAN -2 so I have noted down important points to remember while filling TRAN-1-
- New process of filling TRAN-1 is slightly different from earlier process in F.Y 2017-18. Presently, TRAN-1 form will be verified by jurisdictional tax officer then only credit entry is made in respective ledger.
- We can file TRAN-1/TRAN-2 forms even if earlier not filed or revising the earlier filed TRAN-1/TRAN -2 forms till 30.11.2022
- TRAN-2 form shall be made available only of the taxpayer has filed TRAN-1 and have filed details in Table No 7 of TRAN-1 but need to file all details again in TRAN -2 in case they are revising the earlier filed TRAN-1.
- In case you have earlier filed TRAN forms and now think no revision required then not required to file TRAN-1/TRAN-2 again as not mandatory to file these forms again.
- Window is opened to provide one –time opportunity to taxpayers to either file the said forms or revise the forms filed earlier.
- Post-log in, Taxpayer has to navigate to TRAN-1 forms- Services-Returns-Transitional Forms.
- Three tabs are provided for TRAN-1, TRAN-2 and upload documents respectively.
- Then taxpayer has to select option –Yes/No-
Whether all the returns required under existing law for the period of six months
immediately preceding the appointed date have been furnished,- Select Y/N very carefully…………….as Table No 5 and Table No 8 would be hidden if option No is selected.
- In case records to be added are substantial then we can prepare details in CSV template and then upload CSV LATER and if details are not substantial then there will be no need ,you can add and saved the records.
- CSV uploaded can be verified by downloading it before submitting TRAN FORMS.
- Once you have submitted the TRAN FORMS and then filed with DSC/EVC …but keep in mind once filed, it cannot be revised…..
- Precautions to be taken-
In case you are filling revised TRAN-FORMS as you have earlier filed original forms then keep in mind you have to file the complete form with all required details and not differential values. Use ‘’save’’ button before navigating to next table .Modify and edit records option available to taxpayers in case incorrect details uploaded.
- In case submitted forms are not filed with DSC –it would be considered as not filed.
- Upload documents- Taxpayers have to upload supporting documents for verification of their claim….They can upload maximum of four PDF documents of 5MB each.
- After the verification of the claim, the jurisdictional tax officer will pass an appropriate order thereon on merits after granting appropriate reasonable opportunity of being heard to the applicant. The transitional credit allowed as per the order passed by the jurisdictional tax officer will be reflected in the Electronic Credit Ledger of the applicant on the GST common portal.
That’s all for today————
Queries /doubts can be mailed at mamta0581@gmail.com
Author Bio
Madam,
The condition No.4.3 of CBIC cir.180/12/2022-GST is not in rune with SC decision, which is unconditional to all, who want to revise TRAN-1. It seems that CBIC do not want to mitigate the problems being faced by Tax payers & tend to violate the SC ORDER.
Read article in (2022) 38 J.K.Jain’s GST & VR,pge R25-R26 .
CA Om Prakash Jain s/o J.K.Jain, Jaipur
Tel 9414300730