GST Tip – 242

As per Transitional Rules, if a job worker or agent is not registered under GST, then the principal has to file FORM GST TRAN-1 within 90 days from the appointed date, the closing stock held in form of inputs, semi-finished goods or finished goods.

GST Tip – 241

As per Transitional Provisions, if goods are sent on sale or approval basis before the appointed date, the taxpayer has to submit the details of goods sent on sale or approval basis in FORM GST TRAN-1within 90 days from the appointed date.

GST Tip – 61

As per the transitional provisions in GST, existing credit of CVD (Countervailing Duty) and SAD (Special Additional Duty) available as cenvat credit will be carried forward as IGST Credit in the electronic credit ledger based on the input tax credit shown in the returns filed immediately prior to the appointed day.