GST Trans 1 is finally live on GSTN. Better late then never, government wakes up and gives a small relief to the taxpayers by granting small extension window for filing GSTR 3B. As on date the due dates stand as under :-

25th August, 2017- For assessee who doesn’t have to take transition credit

28th August 2017- For Assessee who have to take transition credit.

So the scenario is file GST Trans-1, get credit  in your Electronic Ledger and then file GSTR-3B after paying differential Tax liability. GST which was supposed to be a Good and Simple Tax, which is now in a state of confusion, due to lack of clarity in legal provisions. Government is hardly taking efforts in  identifying issues at ground level and addressing them in timely manner which is really disappointing. One such incident is GSTN website was not functioning on 19th August and the it seems it is unable to take load of GSTR 3B which is only the summary of Sales- Purchase for July 2017. Late evening around 7pm Government Gives extension sighting various reason of which non functioning of website was addressed in the end.Serious doubts are raised about readiness of GSTN to take the load when filing of  GSTR-1 and GSTR-2 would start.

Having said that finally Trans -1 GST is live and we have done a walk through to understand exactly what details are expected from the tax payers. Attached herewith is a small presentation giving a detail understanding of information sought in the Trans-1. We had studied the Draft of Trans 1 GST, however there are many changes in the final version. Government is asking for tremendous information through Trans-1 GST and GSTR’s, however are they actually ready to take load of so much DATA is a serious question. Well, God Save Taxpayers, however we have attached herewith our presentation on GST Trans-1 for your ready reference. We hope this helps you in filing the same and claim much needed transition credit.

Author Bio

Qualification: CA in Practice
Company: Harshil Shah & Associates
Location: Mumbai, Maharashtra, IN
Member Since: 12 Aug 2017 | Total Posts: 4
CA Harshil Shah is practising Chartered Accountant , proprietor of M/s Harshil Shah and Assocaiates and Indirect Tax Head at Mayur Shah & Co. View Full Profile

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36 responses to “PPT on How to Fill GST Trans-1 and Transition Provisions”

  1. Debasis says:

    Dear Friends,
    We have paid Service tax (Under RCM) after 1st july-17 how we will claimed credit that amount & where will will fill-up the details of that amount
    Rgds,

  2. ajay says:

    in 7(a) columb value means which value taxable value or final sales value ?

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