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.
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.
As per the Transition Rules, the amount of credit specified in the FORM GST TRAN-1 shall be credited to the electronic credit ledger maintained by the common portal in FORM GST PMT-2.
As per the Transitional Rules, every taxpayer opting to take input tax credit under Section 140 of CGST Act is required to file FORM GST TRAN-1 within 90 days from the appointed date. The same can be extended for another 90 days by the commissioner on recommendations of the GST Council.