FILING TRAN-1 is very important & as the due date is 28th Sept’17, Some of the important point covered as below, For all other SECTION wise & TABLE wise QUERIES, you can view the VIDEO in the link below:-
FAQs on GST TRAN – 1
A – No revision after submission, so be careful.
A – Yes, after submitting TRAN-1, amount will be credit in Electronic Credit Ledger & can be utilized than.
A – Recovery of TAX along with Interest & Penalty as per Section 73 or Section 74.
A – PERSON registered under EXISTING LAW & not opting Composition Scheme having Input c/f in returns.
ITC should be reflecting in Return.
ITC allowed in GST Act also.
ITC shouldn’t related to goods manufactured and cleared under Exemption notifications.
Preceding 6 month returns filed.
A – Automatically “0” will be filled when we select “NO”, in Invoice available Box.