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TRAN 1 & TRAN 2 Format, Due Date -Transition of Old Input Credits to GST Regime

By AJ

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Updated on: Nov 23rd, 2022

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27 min read

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A major concern for businesses registered under GST is to make sure they don’t lose out on the tax benefits and input credits of the old regime. These taxes may have been paid while purchasing, inputs, raw materials, semi-finished goods, finished goods, or on materials sent to job worker. For most businesses these taxes are available as input credit on 30th June 2017. And moving these to GST regime is important to take benefit of them.

The CBIC has released transition rules and formats and with the help of these, businesses can move credit of old regime to GST.

Latest Updates

1st October 2022
The GST portal re-opened the facility to file or revise earlier filed TRAN 1/ 2 following the Supreme Court’s directive. The window to file these forms will be available from 1st October 2022 to 30th November 2022. Also, the GST portal released an advisory explaining the revised processes for claiming transitional ITC.

How to claim ITC on old stock? Which form to choose?

Any business having a closing stock -whether registered or not before GST, will be entitled to claim credit of tax paid under pre-GST regime. This claim of ITC also depends on few conditions which we will discuss further.

To help businesses transition smoothly and carry forward their input tax credit, the CBEC has released 2 transition forms called TRAN 1 and TRAN 2. Both these forms can be filed on ClearTax. 

Form typeWho can fileWho cannot fileWhen to file^
TRAN 1Registered persons under GST, may be registered or unregistered under old regime Those registering under GST as composition dealer27th December 2017^
TRAN 2Registered persons under GST but unregistered or under old regime A dealer or trader who does not have documents of duty paidA manufacturer registered under excise A service provider registered under service taxMonthly from July 2017 to December 2017^

Note: TRAN 1 can be revised only once. After rectifying no further changes can be made.

^Following the Supreme Court’s directive, the GST portal re-opened the facility to file or revise earlier TRAN 1/ 2 from 1st October 2022 to 30th November 2022.

Broad aspects of the transition to GST

Transition aspects mainly relate to

  • Input Tax Credit of the old regime that you want to claim in the new regime (report in TRAN-1)
  • Avoid any disruption to material sent to job workers ( report in TRAN-1)
  • Report agent principal dealing and dispatch of goods, works contracts (report in TRAN -1)
  • Tax refunds and claims under the old regime (not reportable in TRAN -1 or TRAN -2)

Things to remember for transition to GST

  • Transition forms must be filed for each GSTIN separately.
  • Any credit that you want to carry forward from the old regime must be eligible credit under GST as well.
  • Accumulated credits of old regime can be taken to GST. This is allowed only when you have filed past six months returns under the old regime. So you must file old returns of VAT/ Excise/ Service Tax properly.
  • Any central taxes and duties such as Excise and Service tax will be carried forward as CGST
  • Any state taxes such as VAT will be carried forward as SGST

Information required in TRAN 1

Here is an item wise break up of information required in TRAN 1

  1. GSTIN – Mention your GSTIN number
  2. Legal Name of Registered Person – Mention your legal name in full
  3. Trade Name: If you are using any Trade Name, mention that
  4. Confirm that you have submitted ALL the returns required under existing law for past 6 months– Answer is in the form of Yes/No. The closing balance of CENVAT/VAT credit of past returns can be taken as a credit in your GST electronic ledger only when you have filed returns for the previous six months under the old regime.   
  5. Tax credit carried forward in the return filed under existing laws Under this you have to provide details of all the cenvat credit you want to move to GST.
  6. The details to be provided are as under → 5a.5b.5c

a) Amount of cenvat credit carried forward to the electronic credit ledger as central tax ( Central Excise and Service Tax) Section 140(1) and Section 140(4)(a).

Applicable for a registered person other than a person paying tax under composition scheme, who was registered under the old regime and has furnished the returns under the old regime. (Section 140(1) of the CGST Act).

Input credit related to taxable supply where the registered person was providing/manufacturing both taxable as well as exempted service/goods under the old regime. (Section 140(4) (a) of the CGST Act).

Such a person can claim excise and service tax input credit balance reflected in the return.  So this table is required to be filed if you are registered as a manufacturer or as a Service provider & if you have a closing balance of CENVAT credit in your return for the period ending 30th June 2017.

The following details have to be provided –

Table input 1: Serial No 

Table input 2: Registration no. under existing law ( Central Excise and Service Tax) – provide your central excise and service tax registration number (both are unique 15 digit number)

Table input 3: Tax period to which the last return filed under the existing law pertains – give the period of the last return filed by you. Say for eg if you are an excise manufacturer you have to file monthly ER-1 and quarterly ER-3. Under this part, you provide details of both these returns filed for the past six months.

Table input 4: Date of filing of the return specified in Table input 3 – Provide the dates of the returns as mentioned above 

Table input 5: Balance CENVAT carried forward in the said last return Provide amount of CENVAT credit you have carried forward for each return 

Table input 6: CENVAT credit admissible as ITC of central tax in accordance with transitional provisions Provide amount of credit that you are eligible to carry forward out of the credit appearing in old return forms

b) Tax credit for C Forms, F Forms and H/I Forms which you want to carry forward [this information is to be provided for the period 1st April 2015 to 30th June 2017]

Here’s a simple recap of what these forms are –

‘C Forms’ – C Form is issued by a registered dealer (purchaser) to a registered seller when an interstate sale is made. When purchases are made under a C form Central Sales Tax (CST) is 2%.  

‘F Forms’ – Are used for making branch transfers without paying tax.  F Form is issued by the branch office/consignment agent receiving goods as branch/stock transfer to its head office/principal who is sending the goods. The Head office/Principal uses F forms to prove that goods sent are stock/branch transfer and not sale. 

‘H/I Forms’ – used in case of Exports for local purchases made without payment of tax. This Form is issued when the buyer is an exporter and is purchasing inter state for exports. If the exporter/buyer issues H form, the seller is not required to charge or pay any CST on the transaction. 

For each of these forms provide the following information – TIN of Issuer Name of Issuer Serial Number of Form Amount Applicable VAT Rate

c) Tax credit for State/UT Tax for pending C Forms, F Forms and H/I Forms (For all registrations on the same PAN and in the same State) – 

If you are registered under any State VAT & if you have any pending C-Form/F Form/H or I Form then you are required to pay the differential tax as you are not eligible to charge concessional CST rate.Such Differential tax payable will be deducted from the input tax credit balance available in the last return filed by you & the remaining credit will be carried forward under GST Regime. 

The details to be provided are as under – 

  • In column 1 mention the registration number under State VAT i.e the TIN
  • In column 2 state the closing balance of the input tax credit in the return filed for the period ending on 30th June 2017.
  • In column 3 , 5 & 8 the Turnover for which the C-Form , F Form & H/I Form respectively are pending must be provided.
  • In column 4, 6 & 9 the differential tax on its respective Turnover must be entered (Eg: if concessional CST is 2% & VAT is 14.5 % , then the differential tax rate is 12.5% ).This will be deducted from the closing balance of input tax credit in the return & hence will be deducted from Column 2
  • In column 7 the ITC reversed by you related to column 3 & 5 must be entered.This amount will be eligible to be carried forward as ITC under GST & hence will be added to the amount in column 2
  • Column 10 is calculated as follows :- Column No 2 – (4+6-7+9).This is the balance ITC of VAT/Entry tax that will be transferred to you under GST regime.

6. Details of capital goods for which unavailed credit has not been carried forward under existing law (Section 140(2)) –

This requires you to provide details of any unavailed input credit pertaining to capital goods. Credit of taxes paid on capital goods is usually spread over more than one financial year. In case you were not able to fully claim input credit of taxes in full by 30th June, the remaining portion can be claimed by reporting here.

Section 140(2) of the CGST Act basically refers to carry forward of CENVAT credit for capital used which was not carried forward in a return of the old regime. If a cenvat credit has been carried forward in an earlier return it will be included in 5a.mentioned above.

This information has to be provided under 6a.and 6b. below 

a) Central Tax portion of unavailed input tax credit on capital goods Amount of unavailed cenvat credit for capital goods which you want to carry forward to electronic ledger as central tax, which is for CENVAT or Excise, or Countervailing Duty or Special Additional Duty (Central Taxes)

In this table you have to give the details of unavailed cenvat credit of Excise Duty or SAD or CVD of Capital goods – 

  • In column 2 & 3 provide the Invoice number & date of the capital good.
  • The supplier’s registration number as per old regime, under excise which is the ECC number must be provided in column number 4
  • In column 5 give your registration number which is either the service tax registration number or the ECC number
  • In column 6 provide the value of the capital good, in column 7 the Excise Duty or the CVD paid & in column 8 the SAD paid.
  • In column 9, enter the CENVAT Credit which was eligible under the old regime. This amount cannot exceed the Total of Column 7 & 8.
  • The CENVAT Credit already availed under the old regime must be provided in Column 10. Such amount cannot exceed the value in Column 9.
  • The balance unavailed CENVAT Credit i.e Column No 9 minus Column No 10 is the remaining or the balance CENVAT Credit eligible as ITC of Central Tax which is reflected in Column No 11.

b) State/UT Tax portion of unavailed input tax credit on capital goods Amount of unavailed input tax credit carried forward to electronic credit ledger as State/UT tax (for all registrations on the same PAN and in the same state) – In this table you have to provide details of unavailed cenvat credit of VAT Or Entry Tax (State/UT Tax) for capital goods- 

  • In Column 2 & 3 provide the invoice number and date of the capital good.
  • The supplier’s registration number under relevant State VAT i.e the TIN Number must be provided in Column 4
  • In Column 5 your (recipients’) registration number must be provided. Enter your VAT registration which is your TIN
  • In column 6 provide the value of the Capital Good ,in column 7 the VAT or the entry tax paid on the capital good.
  • In column 8 , enter the total VAT and entry tax credit which was eligible under the relevant State VAT Act. This amount cannot exceed the Total of Column 7.
  • The Total VAT/entry tax credit already availed under the ols regime must be provided in Column 9. Such amount cannot exceed the value in Column 8.
  • The balance unavailed credit of VAT & entry tax i.e Column 8 minus Column No 9 is the remaining or the balance State VAT/Entry Tax credit admissible as SGST/UTGST in GST Regime which is reflected in Column 10

7. Details of inputs held in stock in terms of section 140(3), 140(4)(b) and 140(6)

This section is for claiming input tax credit by a manufacturer or dealer who was previously unregistered and/or was dealing in exempted goods. This portion asks for details of inputs held as stocks. This portion of TRAN-1 basically applies to a business registered under GST but

  • Such business was not required to be registered under the old regime or
  • was manufacturing  exempted goods or
  • providing exempted services, or
  • who was providing works contract service and was availing abatement (builders) or
  • a first-stage dealer or a second stage dealer or
  • a registered importer or
  • a depot of a manufacturer.

[Any one of the above may be true. These are as per the Section 140(3) of the CGST Act]

It also applies to a person who was manufacturing both taxable and exempted goods or providing taxable as well as exempt services. And tax in the stock/inputs which was used for exempted supply under old regime but is taxable under the GST.

[As per section 140(4)(b) of the CGST Act]  Also applied to a person registered as a composition dealer (paying tax at fixed rate or fixed amount) in old regime, but a normal registered taxpayer under GST. All these above-mentioned persons can claim credit of eligible taxes in respect of stocks held by them when they meet these conditions:

  • such stock is used or will be used for making taxable supplies under GST
  • The input credit is eligible under GST
  • They have invoice or other documents evidencing payment of duty under the old regime for such inputs;
  • These invoices or documents are not more than 12 months old counting backwards from 30th June 2017
  • The services provider is not eligible for any abatement under GST
  • They have not opted for composition scheme

In short these are the persons who have stock as on 30th June 2017 but were unable to claim the credit of such stock through returns filed by them which are already mentioned in 5a.b. or c. of FORM GST TRAN -1 ( see above).

a) Input credit claims other than those claimed in 5a. above 

Provide the following HSN ( at 6 digit level) Unit Quantity Value Eligible duties paid on such inputs

Part 7A is Where duty paid invoices or other documents are available to be filled for inputs or for inputs contained in semi-finished and finished goods by a manufacturer or service provider to claim input tax credit of excise duty or service tax as input tax credit of CGST.

Part 7B is to be filled only by those who are not manufacturer or service provider who was unregistered in the old regime – basically to be filled by dealers or traders to provide information of Inputs where duty paid invoices or documents are not available. Such a person also has to fill TRAN-2 which we will also discuss.

b) VAT and entry tax paid on inputs or input services where documents of payment of tax are available and which will be carried forward as SGST/UTGST:

Where input or input services are received on or after the 1st july 2017 but the duty or tax on the same was paid by the supplier under the old regime.  Registered person can take credit of eligible duties and taxes paid by them when the invoice has been recorded in the books within 30 days from 1st July. (The period can be extended by the Commissioner GST by another 30 days). This situation is covered under section 140(5) of the CGST Act & the following details must be submitted.

  • The name of the supplier must be mentioned in column 1
  • The invoice number & the invoice date must be filed in column 2 & 3 respectively.
  • In column 4-7, the details of such supply that is the description, the quantity(if goods), the unit of measurement(if goods), & the taxable value must be provided.
  • In column 8 the eligible duties must be entered.
  • In column 9 the VAT/Entry Tax in such goods must be entered.
  • In the last column, the date of which an entry was made in the books of account of such transaction must be entered. [If it is after 30days (or any extension provided upto 30days) from 1st July then you are not eligible for claiming its input credit.]

c) Amount of VAT and entry tax paid on inputs supported by invoices/documents evidencing payment of tax carried forward to electronic credit ledger as SGST/UTGST under section 140(3), 140(4)(b) and 140(6) 

  • The details of the stock such as the description, unit, quantity of goods held, the value of the goods & the State Tax(VAT or Entry Tax) must be provided in column 1-5
  • In column 6, the total input tax credit already claimed under the old regime must be entered.
  • In column 7, the input tax related to exempt sales (old regime) but taxable under GST must be filed.This input tax credit would not have been claimed the old regime & it is eligible now if such goods are taxable or where a composition dealer in old regime is now registering as normal taxpayer.
  • In column 8 the remaining balance will be eligible as input credit of SGST/UTGST

d) Stock of goods not supported by invoices/documents evidencing payment of tax (for only those states having VAT at single point)

This portion must be filled if you are trader or dealer who is unregistered under the old regime and where you do not have the invoice or other prescribed documents evidencing payment of VAT/Entry Tax which will be claimed as ITC of SGST after filing FORM GST TRAN – 2. Please note that a manufacturer or a service provider cannot fill this table.  Also this applies to states where the VAT need to paid at the single point. (i.e tax is paid by the manufacturer or the importer only ) like in Punjab.  Provide the following details: Description Unit Quantity Value Tax paid

8. Details of transfer of cenvat credit for registered person having centralized registration under existing law (Section 140(8))

This is applicable for transfer of input tax credit related to service tax.  The following details are required

  • Provide service tax registration number (column 2)
  • The tax period of the last service tax return ST-3 filed which will be April to June 2017 (column 3)
  • Date of filing of returns for the period April to June 2017. [Due date for the return is 15th August 2017]. (column 4)
  • The closing balance of CENVAT credit carried forward in the ST-3 return for April-June 2017.Such credit can be transferred to any of the registered persons with the same PAN for which the centralised registration was obtained in the old regime. (column 5)
  • The GSTIN of all the branches (receivers) who had the centralised registration under service tax and had the same PAN, to whom the credit is transferred. (column 6)
  • A document must be issued in order to distribute the credit. The document number must be mentioned in column 7 & the date of such document in column 8.
  • In column number 9 mention the input tax credit of central tax transferred to each branch.The total of column 9 cannot exceed the total of column 5.

9. Details of goods sent to job worker and held in his stock on behalf of principal under section141

a) Sent as principal A principal who has sent goods to the job worker must fill-

  • Provide the GSTIN of the job worker if he is registered under GST.
  • In column 2 provide the unique no of the challan issued while transferring the goods to job worker & the challan date must be mentioned in Column 3
  • In Column 4 give the types of the goods – whether it is inputs/semi finished/finished goods
  • In column 5-9 provide further details the HSN Code of the good held with Job worker, the description , the unit of measurement for eg: kgs , boxes, tonnes , the quantity, and the value of the stock.

b) Held as job-worker If you are a job worker then you must give details of goods held by you for the Principal in 9 (b) –

  • Provide the GSTIN of the Principal if he is registered under GST.
  • In column 2 provide the unique no of the challan issued while transferring the goods to Principal & the challan date must be mentioned in Column 3
  • In Column 4 give the types of the goods – whether it is inputs/semi finished/finished goods
  • In column 5-9 provide further details the HSN Code of the good held with Job worker, the description , the unit of measurement for eg: kgs , boxes, tonnes , the quantity, and the value of the stock.

10. Details of goods held in stock as agent of behalf of the principal under section 142(14) of the SGST Act. Section 142(14) says that if any goods or capital goods belonging to the principal are lying at the premises of the agent on the appointed day, the agent can take credit of the tax paid on such goods or capital goods when he meets the following conditions:

(i) the agent is registered under GST

(ii) both the principal and the agent must declare the details of stock of goods or capital goods lying with such agent on 30th June 2017

(iii) the invoices for such goods or capital goods had been issued not earlier than 12 months prior to 1st July 2017.

(iv) the principal has either reversed(if anu input tax credit claimed by him) or not availed the input tax credit for such goods or capital goods.

a) Details of goods held as agent If you are an agent then you must give details of Stock held by you on behalf of the Principal  which is unsold as on 30th June 2017 in Serial No 10 (a) –

  • Provide the GSTIN of Principal in Column 2.
  • In Column 3-7 give the details of the stock held by you like the  the description , the Unit of measurement for eg kgs, boxes, tonnes , the quantity of held by you & the value of the stock and the input tax on the same to be taken by you.

b) Goods sent as principal held by the agent If you are a principal then you must give the details of the stock sent by you to the agent & unsold as on 30th June 2017 in Serial No 10 (b) –

  • Provide the GSTIN of Principal in Column 2.
  • In Column 3-7 give the details of the stock held by you like the description , the unit of measurement for eg: kgs, boxes, tonnes, the quantity held by you, the value of the stock and the input tax on the same to be taken by your agent.

11. Details of credit as per Section 142(11)

(c) — This is for works contractor where both VAT & Service Tax is paid by him on any supply, then GST shall be leviable & he shall be entitled to take credit of VAT & Service Tax paid by him to the extent of supplies made after 1st of July 2017.  Here you are required to give details :

  • Registration number or TIN (State VAT registration number) in column 1
  • Service Tax Registration Number in Column 2
  • Invoice number & Invoice date in Column 4 & 5 respectively.
  • In column 6 the GST paid by him must be entered
  • In the last column the VAT & Service Tax paid by him to the extent of supplies made after 1st of July 2017 is claimed as ITC of SGST & CGST respectively

12. Details of goods sent on approval basis six months prior to 1st July 2017 (Section 142(12))

This is for goods that are sent on approval basis not earlier than 6 months prior to July 1st 2017. Following details are required –

  • In column 2 the document number on the basis of which the goods are transferred.
  • In column 3 document date, the date on which the goods are sent.
  • In column 4, GSTIN of recipient of goods if it is applicable.
  • In column 5 name & address of the recipient of goods
  • In column 6-10 – details of such goods like the HSN Code , the description of the goods, the unit for example Kgs/Mtr, the quantity of goods transferred and finally the total value of goods sent.  

Filing TRAN 2

Form TRAN – 2 can be filed by a dealer/trader who has registered for GST, but was unregistered under the old regime. Such a dealer who does not have a VAT or excise invoice for stocks held by them on 30th June 2017, can use TRAN -2 to claim tax credit on the stock with them. A manufacturer or service provider cannot file Form GST TRAN – 2.  TRAN-2 has to be filed by a dealer or trader at the end of every month, when stock is sold reporting the details to claim input tax credit. He must meet the following conditions –

  • Such goods were not unconditionally exempt fully from excise/VAT or were not nil rated goods under Excise/VAT.
  • This scheme is operative only for 6 months from the 1st of July 2017 which means that the stock must be cleared by the end of December to claim the credit.
  • You have a document that shows procurement of such goods.
  • The stock of goods on which the credit is being claimed is stored such that it can be easily identified.

Details to be filled in TRAN 2

  • GSTIN: Provide your GSTIN
  • Name of Taxable Person: Provide name here
  • Tax period: mention the month and year for which this form is being filed
  • Details of inputs held on stock on 1st July for which you do not have any invoice/document evidencing payment of tax carried forward to electronic credit ledger.

Stock held with no supporting document showing payment of Excise Duty(Central Tax) If you do not have a document showing the payment of Excise Duty , then you are supposed to fill the following details –  Here you must give details of the Stock in the following manner:-

  • In column 1, HSN code of the opening stock for the month
  • In column 2, the unit of measurement of the opening stock for the month
  • In column 3, quantity of opening stock for the month
  • In column 4, quantity of goods sold in the month
  • In column 5, taxable value of goods sold for the month
  • In column 6, if sold intra state mention CGST
  • In column 7, if goods sold are sold inter state, then the amount of IGST paid must be mentioned.
  • In column 8, credit of central tax(input credit of CGST) claimed shall be
    1. If the CGST paid in column 6 is 9% or more,then the ITC to be claimed is 60% of column 6. If not then it is 40% of column 6
    2. If the IGST paid in column 7 is 18% or more, then the ITC to be claimed is 30% of column 7. If not then it is 20% of column 7
  • In column 9, quantity of opening stock for the relevant tax period calculated by deducting value in column 4 from value in column 3. (column No 4 minus column 3)

Unavailed ITC w.r.t. capital goods

ITC for capital goods is not available to the taxpayers under pre-GST regime 100% during the purchase of such goods. In case a registered person has purchased the capital goods and was not able to claim the total amount of tax paid on purchase, the remaining ITC can be claimed under GST. Specify the following in respect of every capital goods, invoice-wise details of:

  1. Total Cenvat Credit involved in such capital goods
  2. the amount of ITC availed or utilized till July 1st
  3. the amount of ITC remaining unavailed or unutilized till July 1st

Stock held being sent or received for job work

When a principal manufacturer has sent his goods for job work to the job worker and such goods are lying with the job worker as on 1st July, it is also a stock held by principal manufacturer on which credit of tax will be allowed. The details must be filed by both principal manufacturer and job worker for goods

  1. Held as a job worker on behalf of the principal
  2. Send to job worker for job work as principal

Following are the basic details to be mentioned in the form:

  • Challan number and date
  • Type of goods (raw material, semi-finished/ finished goods)
  • Description of goods- HSN, unit, quantity, value
  • GSTIN of manufacturer or job worker

Goods sent to agent or consignment dealer for sale

When a principal dealer or manufacturer has sent his goods to his agent or consignment dealer for sale and the stock still lies with the agent or consignment dealer as on 1st July, it is also a stock held by principal dealer or manufacturer on which credit of tax will be allowed. The details must be filed by both principal dealer or manufacturer and agent or consignment dealer for goods

  1. Held as an agent or consignment dealer on behalf of the principal
  2. Send to agent or consignment dealer by principal dealer or manufacturer

Following are the basic details to be mentioned in the form:

  • GSTIN of principal dealer or manufacturer
  • Description of goods- unit, quantity, value and ITC to be taken

Conditions to claim ITC

% of ITC claim available

The registered person under GST will be allowed the credit of tax paid on purchase of goods and held in closing stock as on the appointed date. Since, it is not in in possession of an invoice or other documents evidencing payment of taxes under VAT Act, Central Excise, credit will be allowed based on rate of IGST, CGST and SGST of the closing stock under GST according to the HSN code. When the taxpayer sells the goods held as closing stock as on 30th June, he will have to first pay the appropriate taxes on such outward supply and then he will be allowed the ITC based on the rate of tax paid for that outward supply.  

For Example:
Mr. Avinash holds the following goods as closing stock as on 30th June 1000 units of Umbrellas Now on 15th July, he sells 100 umbrellas for Rs.100 each on which IGST is applicable at 12%.

Taxable value- Rs. 10,000/- Tax amount- Rs. 1,200/-

Now, since the rate of IGST is less than 18%, ITC will be allowed at 20% Hence, ITC allowed will be 20% of Rs 1,200/- = Rs 240/-

A registered person can claim credit of ITC in the above manner for six tax periods from the appointed date i.e. July 2017 till December 2017 For each such period a statement indicating the details of supply in Form TRAN 2 has to be filed by the end of the tax period.

Conditions to be fulfilled to claim credit of Central Tax and State tax- Applicable in case of States offering Tax on MRP Scheme.

  • The central tax or state tax payable on such supply has been paid.
  • such goods were not wholly exempt from Excise Duty or Nil rated or under the relevant State VAT Act.
  • the document for procurement of such goods is available with the registered person.
  • furnish the details of stock held at the end of each of the 6 tax periods indicating therein the details of supplies of such goods effected during the tax period in FORM TRAN-2
  • amount of credit allowed shall be credited to the Electronic Credit Ledger.
  • the stock of goods on which the credit is availed is so stored that it can be easily identified by the registered person.

Refer our PPT for a summary on Transition Provisions, Rules and Formats Download Form Tran 1 and Tran 2

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About the Author

DVSR Anjaneyulu, known by the name AJ, I've got a vast experience in accounting, finance, taxes and audit. I'm always keen to simplify laws for the readers and learn about the Indian finance ecosystem. I also love listening to music, travelling, and, most importantly, conversing with people to better understand the world.. Read more

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