In an exemption to various taxpayers who have missed the statutory last date, the Supreme Court has mandated the Goods and Services Tax Network (GSTN) to permit a 2-month additional window from September 1, 2022, to October 31, 2022, to claim the transitional credit.
GST TRAN-1 form and TRAN forms were drawn to permit the taxpayer to carry forward the pre-GST credits to the GST system. According to GST rules, these claims would get furnished within 90 days from the date when the GST act would be forced on July 1, 2017. Various High courts would pass the orders to extend the timeline, with respect to which the GST department has moved to the Supreme court.
On the date, July 22, a bench that consisted of Justices S Abdul Nazeer and JK Maheshwari would pass the orders refusing the special leave appeals furnished by the Union of India with respect to the orders passed through several High courts.
Below mentioned are the coordinates provided by the Supreme court:
- Goods and Service Tax Network (GSTN) would be rendered to open the common portal for furnishing the related forms to claim the Transitional Credit through TRAN-1 and TRAN-2 for two months i.e. w.e.f. 01.09.2022 to 31.10.2022.
- Acknowledging the judgments of High courts upon the general odd situations, any aggrieved enrolled taxpayers would be rendered to furnished writ applicant to the High court or whether the case of the assessee would be decided by the Information Technology Grievance Redressal Committee (ITGRC).
- GSTN needs to ensure that there would be no technical errors in the mentioned time.
- The related officers would be provided a duration of 90 days to validate the truth of the claim or transitional credit and pass the specific orders on it the advantage post to providing the specific reasonable opportunity to the related parties.
- Hence the permitted transitional credit would be shown in the electronic credit ledger.
- GST council might provide the precise rules to the filed formations in investigating the claims.
