Govt Extends Due Date for Filing Form GST TRAN-1 to 31st October
The Central Government, on the recommendation of the Goods and Services Tax (GST) Council, extended the period for submitting the declaration in FORM GST TRAN-1 till 31st October, 2017. TRAN-1 is the form that businesses had to file to claim transitional credit under GST. Any business having a closing stock -whether registered or not before GST, will be entitled to claim credit of tax...
The Central Government, on the recommendation of the Goods and Services Tax (GST) Council, extended the period for submitting the declaration in FORM GST TRAN-1 till 31st October, 2017.
TRAN-1 is the form that businesses had to file to claim transitional credit under GST.
Any business having a closing stock -whether registered or not before GST, will be entitled to claim credit of tax paid under pre-GST regime. This claim of ITC is subject to conditions specified in the Act.
TRAN 1 must be filed by the registered persons under GST. However, those registering under GST as composition dealer cannot file such returns.
Read the full text of the Order below.