- Harshil Shah
- | Goods and Services Tax - Articles
- 22 Aug 2017
- 74,424 Views
- 36 comments
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.
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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,
in 7(a) columb value means which value taxable value or final sales value ?
Sir,
I am holding stocks on which i have paid VAT on MRP..can i am eligible u/s 140(3) to get full vat credit as i have all commercial bills..pls reply
I have filed my trans 1 and which I have received double credit against capital good.
I have already show the credit brought forward in service tax return filled by me for Q1 on 08 Aug 17.
I have filed 5a with credit available with Rs 50000 and 7 a column in detail of Rs 50000.
my actual credit of capital good is only Rs 50000 but in trans 1 the credit display is double means Rs 1 lakh.
Plz guide me what should I do in the above case.
sir, we are builders and we have excise duty and vat bill which we can not take set off earlier period as we are paid 1% vat now what we have to do to take credit of both and in which no we have take credit of it
Sir,If I don’t have any input tax to be claimed as per my vat returns as all vat inputs were adjusted against outputs prior to gst and if i have a closing stock as on 30/6 ,do i still have to fill the trans forms as nil or do i not fill the forms at all.
I have closing stock as on 30.6.2017. upto what old stock should I take in transition-1.
I don’t have excise registration no. but I have the excise invoice in the stock. Also I have the local Purchase also without excise and I paid the VAT.
Please mention in which colum I fill the entry and what is the percentage of tax I get in ITC
MY QUERY IS ON 7 (a) i m a trader not registered in excise but was registered in vat
on ELIGIBLE DUTIES PAID ON SUCH INPUTS column (IF EXCISE INVOICE IS AVAILABLE)
which amount we have to fill – 1) EXCISE DUTY+ VAT, 2) ONLY EXCISE DUTY
on ELIGIBLE DUTIES PAID ON SUCH INPUTS column (IF EXCISE INVOICE IS NOT AVAILABLE
which amount we have to fill- 1) vat, 2) nil (0)
SHOLUD we have to fill 7(c) also for vat purchase bill?
CST purchase bill where to take credit ? 7(a) ?
Sir we have credit of Rs 1,43,000/- capital good which was purchase before one year can we claim this credit in TRANS-1?
sir
in column no.7c of trans 1.
number means vat registration number ?
description means : input tax admissible çl.stock
VAT paid mean:: 2016 April to JUne 2017.?
sir please awaiting your favourable help
sir,
exercisable closing stock but not mentioned
exercise duty in the invoice ( not visible
exercise duty In the invoice
this stock mention in which column of
trans 1 form.
Awaiting your favourable reply
I am a trader registered under VAT. – In Trans 1 column 7(a)
1) I am having ED invoice and can claim credit on column ” Eligible Duty pad” as duty ED amount mentioned in Invoice,
2) I am also having VAT invoice wherein ED is not shown. What amount to be shown in ” Eligible Duty pad” as ED amount is not mentioned in Invoice,
sir
In statutory forms in trans 1 form
which amount is enter
ie gross amount or
invoice total amount. and closing stock from 1-7-2016 to 30-06-2017 for input tax credit (12 months) enter in this trans1 form. 7 (a) and 7 (c) . Awaiting your favourable
sir.
how to fill closing stock entries in the trans 1 form.
please clearly mention column wise details:-
exercise duty paid stock and import goods stock .how to fill it and which colum are applicable for mentioning this stock.
Awaiting your favourable reply
How to fill up Tran-1 data invoice wise or job work challan wise where are more than 1000 records for each category.
what is meant for number in tran1 form
Dear Sir/ Mam,
please send user for tras1 and 3B
If an firm unregistered under previous law wants to take credit of stock of goods held on 30th June, 2017, how to fill the TRAN-1?
The dealer has all invoices available.
If a vusiness has stock of 10 Lakhs but ITC carried forward as per last VAT Return filed for period ending 30/06/17 is only 2000. How to fill it in TRAN -1 ?
data for trans-1 should be signed with ca???
Where is the provision in Tran-1 to enter sec 140(5) gst act Transit material recd on or after appointed day.
and also confirm the offline excel file of Tran-1 is available or not.
where should CVD value of unsold stock been shown in GSTR 3B