For last 2 days, there is so
much hue and cry going on between Taxpayers/Professionals and CBEC Twitter Team
for clarification on last date to submit Tran-1. Lots of confusion.
On 18th September '17, CBEC
issued order No. 2 for extending date of submitting Tran-1 upto 31.10.2017.
But, Y'day GoI clarified, that No date has been extended. Tran-1 is to be filed
by 30/09/17, But it can be revised once by 31/10/17. Same information was in
press release issued on 09/09/2017.
If your Tran-1 is ready, don't
wait for last day, submit it now, or finalize it, still you have 10 days, if
you find an error later, you have opportunity to revise, but if could not
submit, you might lose transitional credit of ITC. Thanks.
Link for Order extending date :
Link for Press Release confirming the same :
Link for Notification allowing revision of
Tran-1 :
In my Opinion since in
Order, Rule Mentioned is 120A that is about Revision of Tran-1 and not Rules
117 to 120, that are about submitting Tran-1, that means, no date extended.
Still awaiting further clarification from GOI Team.
Thanks. Keep Enjoying #GST :)
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