Following the Supreme Court direction in July to re-open the window for availing transitional credit to all the taxpayers, the central government is now seeking a period of 30 days to facilitate the service.
In a major relief to the taxpayers under the GST regime, the Supreme Court has directed to open the GST system enabling to claim transitional credit for two months starting from 1st September to 31st October.
GSTN, the technical backbone of the GST, has to make changes in the system in order to comply with the directions of the Apex Court and the requirements of the taxpayers.
Now, the application submitted before the Apex Court seeking to keep the facility for 90 days from October to December this year. The application further cites technical reasons and difficulties in making changes in the system due to the monthly return filings. The Government, as per the application wants to avoid the difficulties to the taxpayers and ensure a smooth functioning of the portal without affecting the normal return filing process. Earlier, various High Court have expressed a similar view and directed the Government to open the portal. Transition Form 2 or TRANS-2 is filed by those registered taxpayers who are eligible to avail the credit in Electronic Cash Ledger with respect to eligible duties and taxes earlier paid on the inputs under the pre-GST regime
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