Goods and Services Tax : This Chapter deals with the transitional provisions contained in CGST Act, 2017, to facilitate the taxpayers to take Input Tax Cre...
Goods and Services Tax : GST Law contains detailed provisions to carry forward the input tax credit earned by the GST Registered Persons Registered Person ...
Goods and Services Tax : Act now! Last chance to claim Transitional Credit in GST ends on Nov 30, 2022. Understand the process, challenges, and guidelines ...
Goods and Services Tax : Learn about the simplified process of filling TRAN-1 forms for claiming transitional ITC. Important points to remember and deadlin...
Goods and Services Tax : Seize the last chance to claim past credits from Service Tax, Excise, and VAT into GST. Understand eligibility and file GST Trans ...
Goods and Services Tax : It was informed that due to a bug in functionality at GSTN end, issues were faced by officers in uploading orders passed by for T...
Goods and Services Tax : Manual on Uploading Documents in GST Transition Forms How can I upload documents in GST Transition forms? To provide tax officers ...
Goods and Services Tax : Manual on Transition Form GST TRAN – 2 How can I file transition Form GST TRAN – 2? To file transition Form GST TRAN &...
Goods and Services Tax : Notice from CGST department for Audits + Verification of Transition Credit: It is seen in last 15 days that CGST department is iss...
Goods and Services Tax : The GST Policy Wing has vide its Letter dated 22.06.2020 issued its comments on Writ Petitions relating to Transitional Provisions...
Goods and Services Tax : The Bombay High Court set aside a GST rectification order after finding that it was passed without granting the taxpayer an opport...
Goods and Services Tax : The Bombay High Court held that the Appellate Authority could not reduce transitional credit by relying on MVAT mismatch figures o...
Service Tax : Bombay High Court held that transitional CENVAT credit cannot be denied merely because ST-3 returns were filed late. The Court emp...
Goods and Services Tax : The Bombay High Court set aside a GST adjudication order because verification reports relied upon by the authorities were not furn...
Goods and Services Tax : Ruling on Section 140 of the CGST Act and Rule 142, the Court allowed use of transitioned credit via DRC-03 for pre-deposit. The d...
Goods and Services Tax : Instruction by CBIC provides guidance and updates on matters relating to Transitional Credit under the GST Law. It discusses filin...
Goods and Services Tax : According to Hon’ble Supreme Court’s directive filing of TRAN forms was made available for aggrieved taxpayers during 01.10.20...
Goods and Services Tax : The jurisdictional tax officer and the counterpart tax officer shall verify the transitional credit claimed under the CGST or the ...
Goods and Services Tax : Taxpayers of Daman and Diu & Ladakh are hereby informed that they can file or revise their TRAN-1 or TRAN-2 Forms only through the...
Goods and Services Tax : Facility for filing TRAN-1/ TRAN-2 or revising the earlier filed TRAN-1/TRAN-2 on the GST common portal by aggrieved taxpayers, is...
Goods and Service tax is about to complete 3 years of its implementation and after lots of notifications, circulars, and amendments, it is trying to bring stability and smoothness in its functionality. This journey would not be possible without the help of information technology. Information Technology plays a very important role in GST implementation and […]
The Power to legislate a particular provision in a statute with a retrospective amendment is always available to the union or State legislatures. This power is a plenary power in respect of the fields that are demarcated to them and subject to constitutional restrictions and judicial review.
GST laws contain Transitional provisions inter alia Section 140 of CGST Act, 2017 (similar provision in State GST laws) enables the taxpayer to carry forward the unutilized input credit under the pre-GST regime and allow the credit of taxes paid on the stock as on 30.06.2017 as GST credit. For this, Rule 117 of CGST […]
Rule 117 of CGST Rules, 2017 provided an important timeline for claiming the input tax credit under transitional arrangements of 90 days with a power to commissioner to extend this period further for 90 days. The period was extended till 27th December, 2017 to claim transitional credit
After lots of efforts, the Goods and Service Tax Act was introduced in India with effect from 1st July 2017. GST- Being a major indirect tax reform GST replaced many indirect tax laws that were prevalent and under which tax was levied by both the Centre Government and the State Government. Indirect Taxes that existed […]
Rule 117 as being directory in nature, insofar as it prescribes the time-limit for transitioning of credit and therefore, the same would not result in the forfeiture of the rights, in case the credit is not availed within the period prescribed. This however, does not mean that the availing of CENVAT credit can be in perpetuity.
1. While transitioning from the previous taxation regime to the new GST regime, eligible taxes paid in the previous regime were allowed as transitional credits under GST. It was intended to lower the cascading effect and preserve the vested credits. Sec. 140 of the CGST Act, 2017 along with Rule 117 contains the provisions related […]
The issue of transfer of closing balance of credit through TRAN 1 from erstwhile regime to GST regime refuses to settle down even after three years of implementation of GST. While the GST Act and Rules created confusion on what can or cannot be transferred, the GST system failed to provide the critical technical support […]
Accordingly it was held by Delhi High Court in the said case that Rule 117 as being directory in nature, insofar as it prescribes the time-limit for transitioning of credit and therefore, the same would not result in the forfeiture of the rights, in case the credit is not availed within the period prescribed.
There have been numerous judgements of various courts regarding the allowability of transitional credit even though TRAN-1 was filed belatedly. However, in all these judgements the taxpayer was required to prove that the delay accrued to technical errors on the GST portal and the taxpayer had done all within its power to file the same […]
