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
Page Contents
- Q – TRAN-1 can be revised or NOT?
- Q – If Input related to TRAN-1 in GSTR-3B is not taken in JULY’17, Can it be c/f later?
- Q – Consequences if we claim excess Credit?
- Q – WHO needs to fill Point 5a, 5b, 5c & Conditions if any?
- Q – What to fill in “ELIGIBLE DUTY” Box in 7(a) when we have no Duty paid Document?
Q – TRAN-1 can be revised or NOT?
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.
Q – Consequences if we claim excess Credit?
A – Recovery of TAX along with Interest & Penalty as per Section 73 or Section 74.
Q – WHO needs to fill Point 5a, 5b, 5c & Conditions if any?
A – PERSON registered under EXISTING LAW & not opting Composition Scheme having Input c/f in returns.
CONDITIONS –
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.
Q – What to fill in “ELIGIBLE DUTY” Box in 7(a) when we have no Duty paid Document?
A – Automatically “0” will be filled when we select “NO”, in Invoice available Box.
Author Bio
while filing GSTR 3B FOR AUGUST GETTING ERROR MSG
YOU HAVE SUBMITTED TRAN 1, PLEASE FILE TRAN1 BEFORE FILING 3B
BUT WHEN I AM TRYING TO FILE TRAN 1 GETTING ERROR MSG
SUBMIT BEFOR FILING:FOR GSTN: GST NO
I HAVE SUBMITTED TRAN1 15-20 DAYS BACK
due date for GSTR 3B august 2017