Last date for filing of Form TRAN-1 to avail Input Tax Credit is December 27, 2017. Don’t wait for the last date. File Now.
Don’t wait for the last date. File Now.
Section 140 of the CGST/SGST Act provises for transition of Input Tax Credit of the existion taxpayers.
A taxpayer can file Form TRAN-1 and avail Input Tax Credit on the basis of closing balance of the Input Tax Credit declared in the last return under the pre-GST regime.
GST law provides for one opportunity of revising Form TRAN-1, last date for which is also 27th December, 2017.
Taxpayers, who have claimed transitional credit erroneously, are advised to avail of the opportunity to revise Form TRAN-1 by 27th December, 2017.
Please ensure that only correct and bonafide credit is availed in transition.
In case of any default, tax administration would be constrained to initiate audit and enforcement action against the identified units.
GST – A Good & Simple Tax
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