GOVT. EXTENDS DUE DATE FOR FILING FORM GST TRANS-1 FROM JAN 19 TO MARCH 31, 2019.
Government extents the due date for filing Form GST Trans-1 from 31st Jan 2019 to 31st March 2019, in respect in respect of registered persons who could not submit the said declaration by the due date on account of technical difficulties on the common portal and in respect of whom the Council has made a recommendation for such extension.
Form TRAN-1 should be filed by every person having ITC on closing stock and migrated to GST from VAT, Service Tax, or Central Excise. The balance of closing stock held by a business as on 1st July 2017 has to be disclosed in FORM TRAN-1 to claim ITC on the old stock in the GST regime.
CBIC further provided that the registered persons filing the declaration in FORM GST TRAN-1 in accordance with sub-rule (1A), may submit the statement in FORM GST TRAN-2 by 30th April, 2019.
FORM TRAN – 2 can be filed by a dealer/trader who has registered for GST, but was unregistered under the old regime. Such a dealer who does not have a VAT or excise invoice for stocks held by them on 30th June 2017, can use FORM TRAN -2 to claim tax credit on the stock with them.
Following is Notification given for your reference :
|F. No. CBEC-20/06/17/2018-GST
Government of India
Ministry of Finance
(Department of Revenue)
[Central Board of Indirect Taxes and Customs]
New Delhi, the 31st January, 2019
Order No. 01/2019-GST
Subject: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117(1A) of the Central Goods and Service Tax Rules, 2017 in certain cases.
In exercise of the powers conferred by sub-rule (1A) of rule 117 of the Central Goods and Services Tax Rules, 2017 read with section 168 of the Central Goods and Services Tax Act, 2017, on the recommendations of the Council, and in supersession of Order No. 4/2018- GST dated 17.09.2018, except as respects things done or omitted to be done before such supersession, the Commissioner hereby extends the period for submitting the declaration in FORM GST TRAN-1 till 31st 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.
Principal Commissioner (GST)