Revision of TRAN -1 is enabled for TRAN -1 filed prior to 9th Nov'2017

Revision of TRAN -1 is enabled for TRAN -1 filed prior to 9th Nov'2017

Transition Forms TRAN 1 is for TRANSITIONAL INPUT TAX CREDIT/ STOCK STATEMENT

Introduction As per section 140, every registered person under GST regime (but not a composite dealer) should submit a declaration electronically in FORM GST TRAN- 1, if they are entitled to claim ITC of stock as on 30.06.2017. Form TRAN 1 can be filed by a person who is registered under GST & wants to claim ITC on stock, whether he was registered or not registered under the old regime(VAT Act, Central Excise Act, Service Tax Act) is immaterial. It should be duly signed and filed on GSTN common portal mentioning the amount of ITC to which they are entitled under the provisions. The amount of credit specified in the declaration in FORM GST TRAN-1 shall be credited to the electronic credit ledger of the applicant maintained in FORM GST PMT-2 on the Common Portal. FORM TRAN 1 is not only for availing credit of ITC on stock, it is to be filed also when a registered person has purchased capital goods and was unable to claim the full amount of tax paid during the purchase, the remaining amount can be claimed under GST. As per order no. 7/2017 dated 28th October,2017, the due date for submission of TRAN -1 filed was 30th November,2017. As per order no. 8/2017 dated 28th October,2017, the due date for revision of TRAN -1 filed was 30th November,2017. It must be noted that revision of Form GST TRAN -1 can be done only once. It has to be done before 30th November,2017. GSTN portal has enabled revision of TRAN -1 for the taxpayers who have filed their Transition Input Tax Credit Form -1 before 9th November,2017.    

Advisory on claiming credit in TRAN 1 in respect of existing registrations

• It has been observed that taxpayers are facing problem in claiming transitional credit in respect of existing registration under earlier laws of Central Excise, Service Tax and VAT.
• When these registrations are mentioned in the TRAN 1 form in different tables, and transitional credit claimed against them, the tax payers gets the message of processed with error when they save such details. This happens because the application validates the furnished registration number under existing laws in TRAN 1 with the registration number mentioned in the registration/enrolment application.
• Hence, to claim transitional credit in respect of earlier registrations one must first include them in his enrolment/registration details using the non-core amendment facility and then file TRAN 1.
• While filing the application of non-core registration amendment, following care must be taken at the relevant places of application :
  • One should not use special characters (-, /) while adding Service Tax No. /Central Excise No./VAT/TIN on the Business details Tab.
  • One should ensure that no Duplicate e-mail or Phone No. is given for promoters/ partners or Authorized Signatories.
  • One should see that Service Accounting Code (SAC) provided during migration has been provided as per new service codes (and not the earlier ones).