A great confusion has been prevalent regarding the dates for filing of TRAN 1 as the decision taken by the GST council during its 21st meeting, and the subsequent notification released post the meeting seemed to be completely different. According to the council, it was said that the last date to file TRAN 1 was extended to October 31st and this was confirmed by an official press release as well. But later the government came forward with a new rule that only the revision or correction can be done till 31st October, and the original TRAN 1 has to be filed by September 28th only.
So apparently the government introduced a new rule where only the revision was allowed in TRAN 1 till 31st October. This was only communicated a couple of days back by the government. The intentions seem to be very clear in this, that the government does not want the taxpayers to wait till October 31st for their first filing.
But the issue is that surprise has taken many taxpayers who relied upon the first press release that the last date is 31st October and did not follow up on the other updates. This now invites the last minute rush in the upcoming days.
This amendment can be challenged by the government as it goes against the council’s decision. The government of India vide order 02/2017-GST dated 18th September 2017 extended the deadline for submitting GST TRAN 1 under the new rule 120A of the central goods and service tax, 2017 till 31st October. This means that under Rule 120A, a registered person who has submitted GST TRAN 1 within the allocated deadline specified under rule 117, 118, 119 & 120 would be able to revise the GST TRAN 1 once and submit revised declaration in form GST TRAN 1 electronically within the time frame specified in such rules or such other period as may be extended by Commissioner.
To put things into perspective, the TRAN 1 needs to be filed by September 28th and the same can be revised again till 31st October.