- Harshil Shah
- | Goods and Services Tax - Articles
- 22 Aug 2017
- 74,133 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) ?
i hvae excise and vat bill with closing stock of12lakh on 30-6-2017. what column to fill in trans 1 farm
Sir,
I am registered in vat till june but iam not registered in excise but iam having excise bill so in which colum Trans1 I have to enter.so that i can Get the claim
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,
filled Trans 1. Liability is deposited in cash.NO ADJUSTMENT FROM tRANS-1 CREDIT.BUT AT THE TIME OF FILING GSTR3B WHILE SETOFF THE LIABILITY IT SHOWS CHECKSUM ERROR. WHY.WHEN FULL LIABILITY IS DEPOSITED IN CASH.
Sir,
Where you have duty paid documents, select Yes and submit details accordingly. You would received 100% credit of Excise duty paid. However if you do not possess necessary duty paid documents in that case you need to select option “NO” and fill details accordingly.Since Invoice doesn’t contain ED amount, credit of the same wouldn’t be available. You would receive SGST credit upto 60% if GST rate on commodity is 18% OR MORE
AND 40% Where GST rate is Less then 18%.
Hope this suffice your queries
Sir,
You would get credit of Exicse duty paid. please select option “Yes” in duty paying documents.
PLease fill in the necessary details in Entry 7a of Trans -1 form
Also where duty paying documents are not available. Please select option “No” in duty paid documents available. In this case you would receive credit of 60% in SGST if GST rate is 18% or more and 40% where it is less than 18%
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
Geetha,
For your query, you need to fill in details as requested in Entry/Table no 5 and 7a and 7c.
if have duty paid document please select “Yes” from drop down list in 7a.
Hope this help.
How to fill up Tran-1 data invoice wise or job work challan wise where are more than 1000 records for each category.
Sir,
As mentioned by you, if you have more 1000 entries. You need to fill in details in OFFLINE Utility Only. The same is however not available. As per GSTN website the same would be available soon.
Dear Sir,
Offline Utility for submitting large data is now available on website.
what is meant for number in tran1 form
Sir,
Sorry , didnt get your query. Please elaborate a little.
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.
Sir, your case is covered u/s 140 (4) IGST Act 2017.
Please fill in the proper details in Entry no 7(a) and 7 (c) of the trans-1.
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 ?
Sir,
Please note that you would credit to the extend of claimed in vat returns. Please enter proper details in entry number 5 and 7. Credit would be received in Electronic ledger in SGST ledger.
data for trans-1 should be signed with ca???
Sir, there is no such requirement that Trans – 1 need to be signed by a CA. However if the transition credit is excess of Rs 200,000/- a certificate signed by CA needs to be obtained to that effect . However online form so far doesn’t have field to upload scanned documents.
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
Sir, please note that cvd credit on old unsold stock as on 30.06.2017 needs to be disclosed under Trans 1.
Please enter details in entry number 7 of Trans 1 with duty paid documents available. U should get full credit of Duty paid stock lying with you as on 30.06.201, subject to to fulfilment of other conditions as specified in section 140(3) of the IGST ACT
Sir which part of entry 7 ? (a) or (b) ?