Reopening of TRAN 1 & TRAN 2 Forms is a One-Time Opportunity

CBIC Guidelines on Reopening of TRAN 1 & TRAN 2 Forms is a One-Time Opportunity 

Central Board of Indirect Taxes and Customs has issued the guidelines in terms of the order passed by the Supreme Court in the case of UOI vs. Filco Trade Centre Pvt. Ltd. has provided the following directions –

· Honorable S. C. directed the GSTN to open a GST common portal for filing concerned forms for availing Transitional Credit Via TRAN-1 & TRAN-2 for 2 months with effect from 1.10 2022 to 30.11.2022.

· GSTN make ensure that  GST common portal should not found any technical glitches during this time, It is required to kept open for submission Transitional Credit form TRAN-2 or TRAN-1

· GST officer is needed to check the correctness of the GST claim submitted with a period of Ninety days.

· Next stage after verification, Respective GST officer required to pass an order on merits. Notably, before passing an order, GST Officer compulsory required to provide an opportunity of being heard.

· After transitional credit is allowed, then it must be shown in taxpayer Electronic Credit Ledger.

Step by Step guidance for filing/ revising TRAN-1 or TRAN-2

As compliance of CBIC direction given by the Hon’ble S. C., Original filing/ revising TRAN-1/ TRAN-2 facility will be made available on the GST common portal with effect from 1^st October 2022 to 30^th November 2022.

As per the CBIC has given guidelines through circular no. 180/12/2022-GST dated 09.09.2022.

Following are the step by step CBIC guidelines which required to follow for filing/ revising TRAN-1/ TRAN-2 are mentioned hereunder –

STEP-1 –Revise TRAN-2/ TRAN-1 or File TRAN-2/ TRAN-1.

STEP-2 – We needed to submit a pdf copy of declaration in Annexure-A ( it is to ne keep in mind that Annexure-A is provided in circular no. 180/12/2022-GST)

STEP-3 – Now we submit all other required documents for example – In case credit is claimed in table 7A of TRAN-1 i.e., Credit Transfer Document basis. Then, file a pdf copy of TRAN-3 which included details as specified through notification no. 21/2017-CE (NT) dated 30^th June 2017, etc.

STEP-4 –After filling all needed documents, now selection the ‘submit’ button.

STEP-5 – Select ‘File’ button & submit TRAN-2/ TRAN-1 using either DSC or EVC.

STEP-6 –Last original filling/ revising TRAN-2  or TRAN-1 online, File self-certified copy of TRAN-2 / TRAN-1 (attached declaration in Annexure-A & TRAN-3) to respective jurisdictional GST officer within Seven days from the date of submission of TRAN-2 or TRAN-1at GST common portal.

Key highlights on filing TRAN-2 or TRAN-1 & clarifications –

• This filing TRAN-2 or TRAN-1 is last chance or opportunity for revising or filing TRAN-2 or TRAN-1 is available on the GST portal from 1.10 2022 to 30.11.2022.
• The GST registered taxpayer who has properly filed TRAN-2/ TRAN-1 & is not needed to make any revision of said form is not needed to submit or revise TRAN-2/ TRAN-1. In this case, appropriate remedy is to submit an GST appeal against the said order or follow any other alternative remedy as per GST law.  
• Transition credit claimed in table 5(b) & table 5(c) of TRAN-1 should not be in respect of F-Forms/ C-Forms/ I-Forms/H-Forms which has been issued after 27.dec 2017.
• While submitting a claim in TRAN-2, the GST taxpayer should submit one aggregate claim for the whole period. Notably, in column ‘Tax Period’, the applicant should select the last month of the total claim period. 

Complete Circular on cbic guidelines for filing revising tran-1 & tran-2

Disclaimer: The content of this post isn't considered to be professional or legal advice, We aren't responsible for any damages arising from your access to the location content & must not be relied on or used as a substitute for legal advice from a lawyer professional in your jurisdiction. CARajput is among India's big digital compliance services platform which committed to helping people have started & developed their businesses. We had started with the goal of creating it easier for start-ups to start out their business. Our main aim is to assist the businessman with applicable laws & regulations compliance and providing support at each & every level to make sure the business stays compliant and growing continuously. For any query, help or feedback you may in touch on singh@carajput.com or Call or what’s-up on 9-555-555-480