Advisory on reopening of Tran Form to claim transitional ITC

 

As per the direction of the Hon’ble Supreme Court in the case of Filco Trade Centre Pvt. Ltd to reopen the portal for filing/ revising of FormTRAN-1/ TRAN-2 for claiming/ revising transitional credit, GSTN has reopened the portal for two months i.e. from 1.10.22 to 30.11.22.

 

The CBIC has already issued a circular no. Circular No.180/12/2022-GST dated 9.09.22.

 

The filing/ revision of TRAN 1/ TRAN 2 at this stage has its own set of complexities. In addition, the requirements prescribed by the said circular would also have to be complied with.

 

Therefore, taxpayers should carefully evaluate the pros and cons of filing/ revising TRAN 1/ TRAN 2 before availing this opportunity.

 

The copy of the guidelines issued is as under:

 

Advisory on reopening of Tran Form to claim transitional ITC Advisory on Filing TRAN-1 2 Forms to claim Transitional Credit