A better late than never GST move

Govt has allowed claim of transitional credit before payment of tax for the month of July

In a huge relief to trade and industry, the government has allowed claim of transitional credit before payment of tax for the month of July, due by August 20. They may pay the tax on the basis of own calculations and then file the form GST-TRAN-01 claiming transitional credit, and the summary of outward and inward supplies in form GST-TRAN-3B, by August 28. And, may discharge any difference in tax liability thrown up by the returns, along with interest.
 
The GST laws allow carryover of Cenvat credit balances and even the credit balances under value added tax laws as