21 August 2017
Every registered person entitled to take credit of input tax under section 140 shall, within ninety days of the appointed day, submit a declaration electronically in FORM GST TRAN-1, duly signed, on the Common Portal specifying therein, separately, the amount of input tax credit to which he is entitled under the provisions of the said section.
It is basically for carry forward of transitional credit. If such credit is more than Rs 2 Lac, then a certificate is required from Practicing Chartered Accountant or Practicing Cost Accountant.
The due date of filing TRAN1 form is 30.09.2017 but if assessee want to discharge the liability of July using this credit, GST TRAN1 form along with GSTR3B has to be filed on or before 28.08.2017.
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