The Government introduced a new GST Rule 120A vide Notification No. 34/2017- Central Tax dated 15 September 2017 ('Notification'). Rule 120A permits a one-time revision of Form TRAN-1 to be filed by assesses for claiming transitional credit under GST.
Further, the GST Commissioner, by another Order No. 02 / 2017 – GST dated 18 September 2017 notified under said Rule 120A has extended the date of filing of revised declaration in Form TRAN–1 to 31 October 2017.
Comment
Considering the initial difficulty in filing returns under GST, the Government has extended the date for filing of revised declaration in Form GST TRAN – 1.
It must be noted that the time limit for filing declarations in Form TRAN-1 is still 28 September 2017 (i.e. ninety days from the appointed day). However, revised declarations can be filed on or before 31 October 2017.
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