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Govt extends deadline till Nov 30 to claim GST transition credit

TRAN-1 is to be filed by those businesses that are keen to claim credit for taxes paid before the launch of GST

Press Trust of India  |  New Delhi 

GST
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The government on Thursday extended the deadline by a month till November 30 for businesses to claim credit of transitional stock in the (GST) regime.

"Form (with revision facility) extended to November 30, 2017," said a tweet by GST@GOI, the official twitter handle of the government for


is to be filed by those businesses that are keen to claim credit for taxes paid before the launch of on July 1.

"The extension would aid in subsiding the anxiety among various industry players, caused on account of revision option of not being available on the portal even 4 days prior to the due date," EY India Tax Partner Abhishek Jain said.

The Council, in its 21st meeting in Hyderabad, had decided to extend the deadline for filing form to October 31, from September-end earlier.

It also allowed businesses to revise the form once in the case of any discrepancy.

As much as Rs 65,000 crore out of the nearly Rs 95,000 crore tax collections in July -- the first month of -- have been claimed as transitional credit by taxpayers.

Following this, the Central Board of Excise and Customs (CBEC) had ordered a scrutiny of all such claims above Rs 1 crore.

First Published: Thu, October 26 2017. 22:24 IST
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