Easy Step By Step Guide For TRAN-1

Know About TRAN-1

A major concern for businessmen registered under GST is to avail Tax Benefit & Input Credit of Old Regime. In order to avail such benefit, a registered person is required to file TRAN – 1 Within 90 days ( 28th Sep 2017 )of the appointed day, that is 01 July 2017.

Here is a step-by-step Guide to File TRAN-1

Step 1: Login to GST Portal(www.gst.gov.in).

Step 2: After login, select Services, then select Returns and click on Transition Forms. (Services -> Returns ->Transition Forms).

TRAN-1

Step 3: The tabs of transition forms TRAN 1/TRAN2/TRAN 3 is visible on the top of the window. By default tiles of TRAN-1 Form will be visible.

Based on whether you have filed a return for the past six months select ‘Yes or ‘No’ from the drop-down menu.

Note: If TRAN-1 is already submitted, a Reopen button is provided to modify/ add previously filed data.  The data can be modified and submitted only once.

TRAN-1

Step 4: 5(a), 5(b), 5(c) – Amount of tax credit carried forward

This section contains details of ITC to be carried forward from the pre-GST regime to current regime. Enter details in all the fields and save it. If any error will be reflected then it needs to be rectified.

Step 5:  6(a), 6(b) – Details of capitals goods for which un-availed credit has not been carried forward:

  1. Under each tab, invoice-wise details need to be entered separately. So, If there are many entries you can upload JSON file.

Step 6: 7(a), 7(b), 7(c), 7(d) – Details of the inputs held in stock:

A summary of the following has to be mentioned in this section:

  1. Inputs held in stock as on 1st July 2017
  2. Input contained in semi-finished goods or finished goods held in stock as on 1st July 2017

Step 7: 8 – Details of transfer of CENVAT credit for a registered person having centralized registration:

  1. In this section, a summary of ITC to be transferred as CGST credit to your current GSTIN has to be mentioned.
  2. The PAN of your current GSTIN and the PAN mentioned in the previous tax regime should be the same.
  3. The amount mentioned will add up to your electronic credit ledger.

TRAN-1

Step 8: 9(a), 9(b) – Details of goods sent to job-worker and held in his stock on behalf of principal under section 141:

Provide summary details of goods sent to job-worker and held in stock by the Job-worker on behalf of principal by the principal and agent.

This section consists of two tabs:

  1. Details of Goods Sent as principal

TRAN-1

  1. Details of Goods Held in Stock

TRAN-1

Once details are entered under each tab, Click on ‘Save’. Any errors will reflect after saving the details. The errors need to be corrected to proceed further.

 

Step 9: 10(a), 10(b) – Details of goods held in stock as agent on behalf of the principal under section 142:

This section contains two tabs:

  1. Goods in Stock (Held on behalf of principal)

TRAN-1

  1. Goods in Stock (Held by Agent)

TRAN-1

Step 10: 11 – Details of credit availed in terms of Section 142(11(c)):

TRAN-1

Step 11: 12 – Details of goods sent on approval basis six months prior to the appointed day:

Summary details of goods sent on approval basis after 1st January 2017 (i.e. before 1st July 2017) but returned after 1st July 2017.

TRAN-1

 

 

Step 12-  ‘Submit’ TRAN-1. Click on ‘Submit’ button to freeze the details. If the data once is frozen cannot change.

TRAN-1

Step 13 – A warning message will be displayed. Click on ‘PROCEED’.

TRAN-1

The status of the TRAN-1 on the GST Portal changes from ‘Not filed’ to ‘Submitted’.

On successful submission of TRAN – 1, the transition credit claimed in the form us added in the balance of Electronic Credit Ledger.

 

Step 14: File TRAN – 1 with EVC or DSC

TRAN-1

Enter the authorized signatory detail and click on either of following options available:

 

FILE WITH DSC-> click proceed on warning screen-> Select certificate and click SIGN button

FILE WITH EVC->enter OTP sent to mail and registered mobile number of the authorized signatory registered on GST portal-> Click “Verify” button

The success message is displayed and acknowledgment is generated. Click the ‘OK’ button. Status of the TRAN- 1 changes from “Submitted” to “Filed”.

Credit claimed in TRAN- 1 gets credited to the taxpayer’s credit ledger on the successful filing of the form.

 

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