GSTN Reopens TRAN-1, GSTN Advisory on how to claim Transitional credit

GSTN Reopens TRAN-1, GSTN Advisory on how to claim Transitional credit The Supreme Court ordered the GST system to open, to enable taxpayers under the GST regime to claim transitional credit for two months. This came as a significant relief for taxpayers under the GST regime. Supreme Court Orders to Open GST portal to Claim Transitional Credit for Two Months [Read Order] Later the court gave one-month extension to GST Portal for Re-opening TRAN-1, and not the Transitional Return is finally open for Taxpayers for Filing. Every registered person who is eligible to take credit of eligible duties and taxes paid under existing laws in respect of input or input services or capital goods in his/her Electronic Credit Ledger, needs to file a declaration in Form GST TRAN - 1 within the specified period i.e. 01.10.2022 to 30.11.2022 as per the judgement made by the honorable Supreme court. To file transition form GST TRAN - 1, perform the following steps: 1. Login and Navigate to Transitions Forms > TRAN - 1 page 2. Enter details in various tiles 3. Submit TRAN - 1 to freeze data 4. File TRAN - 1 with DSC or EVC Click on the Below Link for a Detailed Advisory