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All you should know while filing Form GST TRAN-1 (Transitional Provisions)

Goods and Services Tax - GST - By: - CASanjay Kumawat - Dated:- 24-8-2017 Last Replied Date:- 15-11-2017 - The main objective of transitional provisions is to provide a safe cushion for existing taxpayers to adapt the new legislation without any shock. In the same lines, filing of GST TRAN forms is the second stage for persons under GST in the month of August, 2017. It is important to claim the benefits of ITC and save working capital needs of the persons. There is lot of confusion among industr .....

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have to file by August 28. Although, due date for filing of GSTR-3B has been extended upto 25th August 2017 for the persons who do not want to avail the transitional credits while paying their tax liabilities. But due date for filing of the GSTR-3B for those persons who do want to claim transitional credits is 28th August 2017 but they have to pay GST liability on or before 25th August, 2017. Now, question comes that how to determine the GST liability before filing of GST TRAN form. In this resp .....

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days of the appointed day) 2. Tax or duty credit on goods held in stock on the appointed day where taxpaying documents not available FORM GST TRAN-2 Upto 31.12.2017 ( within six tax periods from the appointed date 3 Declaration to be made under clause (c) of sub-section (11) of section 142 , i.e., composite supply case under earlier taxation regime FORM GST TRAN-1 Upto 30.09.2017 (within ninety days of the appointed day) 4. Declaration of stock held by a principal and job-worker FORM GST TRAN-1 .....

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RAN forms as discussed above, shall be required to file with in time specified in the law. Having understood the description and time limits, we shall now understand the form in detail with field-wise reporting requirement along with how data/ information must be identified, computed and assimilated by the business to ensure error free filing of this form. Detailed analysis of TRAN-1 is as follows: Field No. 4 : Whether all the returns required under existing law for the period of six months imm .....

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x credit carried forward in the return filed under existing laws Amount of Cenvat credit carried forward to electronic credit ledger as central tax (Section 140(1) and Section 140(4)(a)) Sl. no. Registration no. under existing law (Central Excise and Service Tax) Tax period to which the last return filed under the existing law pertains Date of filing of the return specified in Column no. 3 Balance cenvat credit carried forward in the said last return Cenvat Credit admissible as ITC of central ta .....

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with the day immediately preceding the appointed day, furnished by him under the existing law. Section 140(4) (a) : A registered person, who was engaged in the manufacture of taxable as well as exempted goods under the Central Excise Act, 1944 or provision of taxable as well as exempted services under Chapter V of the Finance Act, 1994, but which are liable to tax under this Act, shall be entitled to take, in his electronic credit ledger the amount of CENVAT credit carried forward in a return f .....

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f the claim. Amount of tax credit carried forward to electronic credit ledger as State/UT Tax (For all registrations on the same PAN and in the same State) C Forms F Forms H/I Forms Registration No. in existing law Balance of ITC of VAT and [Entry Tax] in last return Turnover for which forms Pending Difference tax payable on (3) Turnover for which forms Pending Tax payable on (5) ITC reversal relatable to [(3) and] (5) Turnover for which forms Pending Tax payable on (7) Transition ITC 2- (4+6-7+ .....

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When the said claims are substantiated, the amount will be refunded to the taxable person. [Third proviso to section 140(1) of the SGST Act, 2017] These tables are relevant in case where registered person has purchased inputs on payment of VAT for the purpose of making inter-state sales and VAT credit is claimed in his return. According to second and third proviso, VAT credit to the extent of inter-state supplies which are not substantiated cannot be carried forward. Hence, balance credit can b .....

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laim is not substantiated. Hence, the credit of VAT equal to difference between 20 percent and 2 percent will not be eligible for carry forward. It may be noted in case where such person is not engaged in inter-state sale then there is no restriction to carry forward the VAT credits to in GST regime. It may further be noted that credit of CST shall not be allowed to carry forward in GST regime. Field No. 6 : Details of capitals goods for which unavailed credit has not been carried forward under .....

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TC of central tax) (9-10) Duties and taxes paid ED/ Amount of unavailed input tax credit carried forward to electronic credit ledger as State/UT tax (For all registrations on the same PAN and in the same State) Sr. Invoice / Document Invoice / document Recipients registration no. under existing Details of capital goods on which credit is not availed Total eligible VAT [and ET] credit under existing Total VAT [and ET] credit availed under existing law Total VAT [and ET] credit unavailed under exi .....

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after subtracting the amount of CENVAT credit already availed in respect of capital goods by the taxable person under the existing law from the aggregate amount of CENVAT credit to which the said person was entitled in respect of the said capital goods under the existing law. The registered person shall not be allowed to take credit unless the said credit was admissible as CENVAT credit under the existing law and is also admissible as input tax credit under GST Act. In Central Excise, CENVAT Cr .....

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held in stock in terms of sections 140(3), 140(4)(b), 140(5) and 140(6). Amount of duties and taxes on inputs claimed as credit excluding the credit claimed under Table 5(a) (under sections 140(3), 140(4)(b) and 140(6)) -Kindly refer TRAN Form- Section 140(3) : Readers may refer given link for detailed understanding of section 140(3) of CGST Act, 2017 for Central levies. https://www.linkedin.com/pulse/credit-unsold-stock-under-section-1403-cgst-act-2017-kumawat?published=t Section 140(4)(b): A r .....

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to such exempted goods or services, in accordance with the provisions of section 140(3) (kindly refer to the above given link). Section 140(6): A registered person, who was either paying tax at a fixed rate or paying a fixed amount in lieu of the tax payable under the existing law shall be entitled to take credit of eligible duties in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day. It may be noted that the said register .....

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respect of inputs or input services received on or after the appointed day but the duty or tax in respect of which has been paid by the supplier under the earlier law, subject to the condition that the invoice or any other duty or taxpaying document of the same was recorded in the books of account of such person within a period of thirty days from the appointed day. It is possible that the supplier has prepared invoice and despatched goods prior to 30-06-2017, but the goods were received after .....

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inputs supported by invoices/documents evidencing payment of tax carried forward to electronic credit ledger as SGST/UTGST under sections 140(3), 140(4)(b) and 140(6) -Kindly refer TRAN Form- Section 140(3) : Readers may refer given link for detailed understanding of section 140(3) of SGST Act, 2017 for State levies. Link: https://www.linkedin.com/pulse/credit-unsold-stock-under-section-1403-sgst-act-2017-kumawat Section 140(4)(b): A registered person, who was engaged in the sale of taxable goo .....

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f tax (credit in terms of rule 117 (4)) (To be there only in States having VAT at single point) [ Note : Details of description and quantity of inputs / input services as well as date of receipt of goods or services (as entered in books of accounts) is also required.] -Kindly refer TRAN Form- This option is available for the cases in which registered person wants to claim transitional credit for the MRP based goods for which taxpaying documents is not available. Field No. 8: Details of transfer .....

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of goods sent to job-worker and held in his stock on behalf of principal under section 141 Details of goods sent as principal to the job worker under section 141 -Kindly refer TRAN Form- Details of goods held in stock as job worker on behalf of the principal under section 141 -Kindly refer TRAN Form- Every person to whom the provisions of section 141, i.e. principal and job worker relationship apply shall, within ninety days of the appointed day, submit a declaration electronically in above tabl .....

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or capital goods. Declaration is to be given in above tables. Field No. 10: Details of goods held in stock as agent on behalf of the principal under section 142 (14) of the SGST Act Details of goods held as agent on behalf of the principal -Kindly refer TRAN Form- Details of goods held by the agent -Kindly refer TRAN Form- Where any goods or capital goods belonging to the principal are lying at the premises of the agent on the appointed day, the agent shall be entitled to take credit of the tax .....

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the appointed day; and the principal has either reversed or not availed of the input tax credit in respect of such,- goods; or capital goods or, having availed of such credit, has reversed the said credit, to the extent availed of by him. Field No. 11: Details of credit availed in terms of Section 142 (11 (c)) -Kindly refer TRAN Form- For detailed understanding of section 142(11)(c), reader may refer given below link: https://www.linkedin.com/pulse/service-tax-vat-v-goods-services-section-14211 .....

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2) of section 142 applies shall, within ninety days of the appointed day, submit details of such goods sent on approval in FORM GST TRAN-1. Conclusion These are the important steps or filed to fill this form. Since window for filing of GST TRAN is already opened. CA Sanjay Kumawat (For any feedback or queries write to casanjay.kumawat91@gmail.com.) - Reply By CASanjay Kumawat - The Reply = Que. A vat dealer who is having excise bills can fill TRAN-1 part 7(a) and he will get the actual credit. R .....

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the credit in respect to stock which you have sold. - Reply By CASanjay Kumawat - The Reply = Que. A builder having both vat and excise bills will show them in TRAN-1 part 7(a) and 7(b)? Reply: Yes, builder can show but this should be in compliance with the conditions specified in section 140(3) of the CGST/SGST Act, 2017 read with Rule 117 of the CGST/SGST Rules, 2017. - Reply By R.S. Mangal - The Reply = Question. As per Section 140(7), an ISD can distribute the Input tax Credit on account of .....

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7). - Reply By R.S. Mangal - The Reply = If an manufacturer has the credit of Cenvat Credit balance as on 30.06.2017 for carried forward but does not any credit available for VAT, then whether the details related to C,F,I,H form received from 01.04.2015 till 30.06.2017 or pending of such forms is required to be disclosed in Trans 1. In our view if no VAT credit is to be carried forward then such details is not required to be mentioned. There are contrary views also in market.What is the legal po .....

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lready filed his ST3 return for the quarter June,2017, then how he will be able to transfer such credit in new regime? The Trans 1 has no column for section 140(7). Reply In my view, ISD has to revise the return and claim the credit with reference to the section 140(1) of the CGST Act, 2017. In TRAN-I, this claim is to be shown in Table No. 5(a). This credit is to be claimed in Table No. 8 of the GSTR-2 and in GSTR-3B, in all other ITC of Table No. 4. - Reply By CASanjay Kumawat - The Reply = Qu .....

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etail is required to be given only in case when assessment is pending for the forms/turnover and not in all cases. It may be noted that in case if you do not want to carry forward the VAT credits then there is no any requirement of filing of forms in TRAN-1 form. - Reply By R.S. Mangal - The Reply = Question. As per Section 140(7), an ISD can distribute the Input tax Credit on account of any services received prior to appointed day by it even if invoices relating to such services are received af .....

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f the CGST Act, 2017. In TRAN-I, this claim is to be shown in Table No. 5(a). This credit is to be claimed in Table No. 8 of the GSTR-2 and in GSTR-3B, in all other ITC of Table No. 4. Q Thanks Sanjayji, I still have doubt because as per Section 142(9)(b) of CGST Act,2017 , where any return furnished under the erstwhile CE or Finance Act is revised and if pursuant to such revision Cenvat Credit is found admissible then same shall be refunded under old laws. But question is how an ISD will get th .....

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econd stage dealer take the credit of excise dudy paid by him to first stage dealer...if FSD provide its purchase bill evidencing payment of duty by him..?? - Reply By CASanjay Kumawat - The Reply = Yes, second stage dealer can take the credit of eligible duties including excise duty. Legal reference : Section 140(3) of the CGST Act, 2017. - Reply By Manoj Kasture - The Reply = A builder has construction WIP. This is construction completed for unsold flats. Can he take credit of the ED and VAT w .....

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uilder who is providing construction services cannot take the credit of inputs or input services. However a contractor can take if he was paying service tax under abatement scheme. - Reply By CASanjay Kumawat - The Reply = With reference to section 142(9)(b) of the CGST Act, credit admissible after revision of return will be refunded. Therefore, you may not carry forward the same through TRAN -1. - Reply By Prateek Diwan - The Reply = Continued from previous post Can second stage dealer take the .....

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of goods to whome we sale furthe? and at which rate 100% or 60% ( as that bill is at the name of FSD) along with this cn we also claim input of VAT in our SGST credit ledger..mention on the bill raised by FSD on us?( both credit cn be take together) - Reply By Amit Choudhary - The Reply = Being an importer if i have only CVD & SAD as closing stock ITC which i sm claiming under 7 a in TRAN 1 and i had made central sales under the cover of C Form, but i dont have VAT credit, do i need to uploa .....

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ices for closing stock, So please tell me whether i have to file tran 1 or tran 2 ? - Reply By CASanjay Kumawat - The Reply = If you are registered under GST Act then you may file Tran-1 or tran-2, as the case may be , for the purpose of claim of credit in respect to stocks lying as on 30.06.2017. - Reply By vaishali shah - The Reply = Yes.. registered under GST but not reg under previous laws... i have closiing stock with VAT invoices.. Which form to file...Tran 1 or tran 2 if tran 1 then which .....

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