As the deadline for the filing of TRAN 1/TRAN 2 is expiring today, the Central Board of Indirect Taxes and Customs (CBIC) has reminded the taxpayers to file the same today itself as there would not be any further opportunities.
The GST TRAN 1 is a transition form for the already registered taxpayers in old schemes who are filing the GST TRAN -1 form for availing their previous input tax credit accumulated from earlier purchased stock before the implementation of the GST.
In October 2022, the TRAN filing process has been enhanced and the user interface of the portal has been made more intuitive to make it simple and easy for the taxpayer to file their forms TRAN-1/2. For smooth and easy filing of TRAN-1/2 a detailed advisory and a step by step, frame by frame guide has also been prepared.
The CBIC has earlier informed that the last date for the filing of GST TRAN-1 and 2 is 30th November 2022 and no form shall be accepted after 30th November 2022.
“Don’t wait for the last-minute rush to file your TRAN-1/2 Forms. Please File today. The last date to file TRAN forms is 30th November 2022. No Form shall be accepted after 30th November 2022,” GST Portal said in a statement.
Following the Supreme Court direction in July giving nod to open the GST window for filing of transitional credit after four weeks, the Goods and Services Tax Network (GSTN) has re-opened the TRAN window for the taxpayers and declared that it would facilitate the filing from 1st October 2022.
In July, the Supreme Court, while hearing a bunch of petitions, directed the Government to open the GST system enabling to claim transitional credit for two months.
As per the Apex Court order, the GST portal shall be open for all assesses to claim transitional credit for 60 days from 01.09.2022 till 30.10.2022. the benefit shall be provided to all the assesses to obtain the benefit they have filed petitions or not.
Secondly, the GSTN shall make sure that no technical glitches are arising during this time as most of the petitions and taxpayers missed the deadline due to delay in filing the returns on ground of technical issues. Once the filing is completed, 90 days shall be given to the officers to verify the claim of credit on merits and pass appropriate order.
This shall be in terms with the natural justice principles and the opportunity of hearing to be granted to the assessee. Thereafter credit to reflect in Electronic Credit Ledger.
Support our journalism by subscribing to TaxscanPremium. Follow us on Telegram for quick updates.
