Deadline Extended for Filing GST TRAN-1

The Government has today announced an extension of the deadline for filing GST TRAN-1. The new deadline for filing GSTR TRAN-1 is now 30th November 2017. https://twitter.com/askGST_GoI/status/923511680566464513

Do I have to file GST TRAN-1?

The Ministry of Finance provided the procedure for transferring existing input tax credit to GST for entities with service tax, VAT or central excise registration in Transitional Rules in GST. In accordance with the provisions, everybody who has

registered for GST can file GSTR TRAN-1 to avail the input tax credit. The taxpayer must submit the following details in TRAN-1 for transfer of input tax credit. After submitting the details the taxpayer should submit Form TRAN-1 only on the GST Portal.

The amount of tax or duty availed or utilized by way of input tax credit under each of the existing laws till the appointed day;
The amount of tax or duty yet to be availed or utilized by way of input tax credit under each of the existing laws till the appointed day;
Details of stock held on the appointed day;
In the case of a claim under sub-section (5) of section 140, furnish the following details, namely:
- The name of the supplier, serial number and date of issue of the invoice by the supplier or any document on the basis of which credit of input tax was admissible under the existing law;
- The description and value of the goods or services;
- The quantity in case of goods and the unit or unit quantity code thereof;
- The amount of eligible taxes and duties or, as the case may be, the value added tax [or entry tax] charged by the supplier in respect of the goods or services; and
- The date on which the receipt of goods or services is entered in the books of account of the recipient.

Due Date for Filing GST TRAN-1 Extended upto 30th November

GST Tran 1 must be filed in the

GST Common Portal for transferring any input tax under earlier tax laws to the GST input tax. The Ministry extended the due date for filing GST TRAN-1 until 30th November 2017 to help taxpayers complete the necessary formalities. After filing GST TRAN-1 and receiving the confirmation for filing FORM TRAN-1, the electronic credit ledger receives the total amount in credit as registered to the taxpayer. The credited amount shall reflect in FORM GST PMT-2. Click here for GST Registration or GST Return Filing

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Frequently Asked Questions

Common questions about GST TRAN-1 Filing Deadline Extended to November 30, 2017.

GST TRAN-1 is a form that needs to be filed by taxpayers registered under the GST regime to transfer their existing input tax credit from the previous tax regimes (like VAT, Service Tax, etc.) to the GST regime. It allows businesses to avail and carry forward eligible input tax credits accrued under the earlier laws.

Any business entity that was registered under the previous tax regimes (VAT, Service Tax, Excise etc.) and has accumulated input tax credit needs to file GST TRAN-1 to carry forward and claim that credit under GST. Filing TRAN-1 is mandatory for such taxpayers to transfer their existing credits to the new GST regime.

Taxpayers need to provide details like the amount of tax or duty already availed as input tax credit, the amount yet to be availed, details of stock held on the appointed GST date, invoices on which input tax credit is being claimed, and other relevant information as per the transition rules.

The due date for filing GST TRAN-1 has been extended to November 30, 2017. The earlier deadline was revised by the government to give businesses more time to complete the necessary formalities and claim their eligible input tax credits.

Once GST TRAN-1 is filed and accepted by the GST portal, the total eligible input tax credit amount will get credited to the taxpayer's electronic credit ledger on the GST common portal. This credited amount can then be viewed in FORM GST PMT-2.

Yes, filing GST TRAN-1 is mandatory for all taxpayers who want to carry forward and claim input tax credit accumulated under the previous tax regimes (VAT, Service Tax, Excise etc.) to the new GST regime. Failure to file TRAN-1 will result in the loss of accumulated credits.

If GST TRAN-1 is not filed by the extended due date of November 30, 2017, taxpayers will lose the ability to carry forward and claim input tax credits accumulated under the previous tax regimes. The credits will lapse and cannot be claimed later under GST.

No, GST TRAN-1 cannot be revised once it is filed on the GST common portal. Taxpayers need to ensure that all details are accurate and complete before submitting the form, as amendments are not permitted after filing.

GST TRAN-1 needs to be filed electronically on the GST Common Portal (www.gst.gov.in) by logging into the taxpayer's account and following the prescribed procedure for filing the form.

Yes, the government has provided detailed guidelines and instructions on filing GST TRAN-1 on the GST portal. Additionally, taxpayers can seek assistance from tax professionals, GST Suvidha Providers (GSPs), or consult the GST helpdesk for any queries or issues related to filing TRAN-1.