In a major relief to the tax payers, the Central Government today notified that the due date for filing FORM GST TRAN – 1 (with revision facility) extended to 30th November 2017 under the Central Goods and Services Tax (CGST) Act.
Earlier, the due date was October 31st.
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 Notification Below