Govt warns Taxpayers who availed extraordinarily high transitional credit in Tran-1

Last updated: 13 December 2017

On filing of Form TRAN-I to avail Input Tax Credit Transition to GST provided for trust based transition of input tax credit of the existing taxpayers. A tax payer could file Form TRAN-1 and avail input tax credit on the basis of closing balance of the input tax credit declared in the last return under the pre GST regime. The last date for filing of Form TRAN-1 is 27thDecember, 2017. In keeping with the philosophy of voluntary compliance, revision of Form TRAN-1 has also been provided. The la
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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