As per Transition Rules, an unregistered person claiming input tax credit of Central Excise on the opening stock as on the appointed day, have to file monthly return known as FORM GST TRAN 2 with details of the outwards supplies made for the tax period.
GST Tip – 238
As per Transitional Rules, any registered taxpayer as on the appointed day, who is not registered under the existing law is allowed to take input tax credit on the on the goods for Central Excise or Customs Duties held in stock on the appointed day even though is not in possession of the duty payable documents with him.
GST Tip – 220
As per the Composition Rules, any taxpayer who has been provided provisional registration, have to file an intimation in FORM GST CMP-01 if he opts to pay tax under composition scheme on the common portal or through GST facilitation center notified by the commissioner prior to appointed day or within 30 days from appointed day.
GST Tip – 60
As per the transitional provisions in GST, Central Excise and Service Tax Credit will be carried forward as CGST Credit, Value Added Tax Credit will be carried forward as SGST Credit in the electronic credit ledger based on the input tax credit shown in the returns filed immediately prior to the appointed day.