As per a tweet by official twitter handle of the GoI for the queries on Goods and Services Tax (GST), the due date for filing GST TRAN-1 is extended to November 30, 2017. The order will be issued shortly.
The GST TRAN 1 form is transition form for the already registered taxpayers in old schemes who are filing GST TRAN -1 form for availing their previous input tax credit accumulated from earlier purchased stock before the implementation of the GST.
A lot of registered entities are under GST in current time period which are stuffed with their old tax credits and benefits, which is a concerned part of transition. There is a variety of tax paid in the previous tax scheme, ranging from raw materials, semi furnished goods or on the items and material given to the job working process.
Earlier the last date for filing GST TRAN-1 was October 31, 2017 which has now been extended.