ORDER NO. 03/2017 – GST DECLARATION FORM GST TRAN-1

The CBEC has issued Order No. 03/2017 to provide clarity on the filing of GST Tran-1 form.

GST Tran-1 is a declaration form that needs to be filed by taxpayers who want to claim credit for taxes paid under the previous tax regime.

The form needs to be filed by taxpayers who have registered under GST but have not been able to claim credit for taxes paid under the previous tax regime.

The form needs to be filed by taxpayers who have registered under GST but have not been able to furnish the required details of their stock held on the appointed day.

The form needs to be filed by taxpayers who have registered under GST but have not been able to furnish the required details of their invoices issued in the previous tax regime.

The last date for filing GST Tran-1 form has been extended to December 31, 2020.

Taxpayers who fail to file the form by the due date will not be able to claim credit for taxes paid under the previous tax regime.