The Central Government has extended due date for filing the period for submitting the declaration in Form GST TRAN – 1 from January 31, 2019 to March, 2019 for the class of registered persons who could not submit the said declaration by the due date on account of technical difficulties on the common portal and whose cases have been recommended by the Council.
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.To Read the full text of the Notifications CLICK HERE