Businesses Can Now Make Changes To GST Transition Claim Forms: GSTN

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    GST Network on Friday said businesses can now make changes to the forms uploaded to the portal to claim transition credit.

    "The facility to revise Form GST TRAN-1 declaration has been introduced on the GST Portal for taxpayers who had already filed it prior to November 9, 2017," GSTN said in a statement. How To Cancel GST Registration? All You Need To Know

    Businesses Can Now Make Changes To GST Transition Claim Forms: GSTN

    Form TRAN-1 declaration is to be filed by persons registered under GST law who wish to claim credit for taxes paid under the pre-GST regime.

    The functionality to fill the claim form was provided on the GSTN portal in August 2017.

    The government in September allowed for one-time revision of TRAN-1.

    The facility to revise TRAN-1 declaration has been enabled for taxpayers who had already filed it, said GSTN, the company which developed the IT backbone for the new indirect tax regime.

    Revision can be either an increase or decrease of credit in comparison to the original credit.

    If the revision is to reduce the credit claimed previously then the taxpayer will be able to file only if he has sufficient balance in his credit ledger," GSTN said. 

    Read more about: gst gstn
    Story first published: Friday, November 10, 2017, 16:01 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more