Since the node given by the Supreme court to open the GST window towards furnishing the transitional credit post to 4 weeks the Goods and Services Tax Network (GSTN) told the assessee, that they will ease filing from 1st Oct 2022.
“Hon’ble Supreme Court while hearing an application from GSTN, has allowed the extension of 4 weeks time to comply with their order dated 22/07/2022 issued in the matter of UOI &Anr. V/s Filco Trade Centre Pvt. Ltd. &Anr. bearing SLP (C) nos. 32709-32710/2018. Accordingly, GSTN would open the common portal for filing transitional credit through Tran 1 and Tran 2 w.e.f 01/10/2022, the GSTN declared.”
GSTN supports the GST in a technical way and would perform the amendments in the system for following the coordinates of the Supreme court and the needs of the assessee.
In the former week, the central government before the Supreme court asked for the coordinates to maintain the utility for 90 days from October to December in the current year. The application quoted the technical cause and issues in doing the amendments in the system because of the monthly return filings.
The Supreme Court in July when hearing a bunch of petitions rendered the Government to open the GST system enabling them to claim transitional credit for two months.
According to the Supreme court, the GST portal will get open to all taxpayers for claiming the transitional credit for 60 days from 01.09.2022 till 30.10.2022. The advantage would be furnished to all the taxpayers to avail the advantage they have furnished the petitions or not. The other is that GSTN will ensure that there would be no technical issues comes at the current time since the majority of the petitions and assessees forget the last date because of the late filing of returns on the basis of technical glitches.
After the finish gets finished 90 days will be furnished to the officer to validate the claim of credit on the advantages including an issuance of the precise order. It would be associated with the natural justice principles and the opportunity of hearing to be given to the taxpayer. Hence the credit is to show in Electronic Credit Ledger.
