Last Date for Tran-2

Last Date for Tran-2

The last date for TRAN-2 is 30th of June 2018. Be quick and file the TRAN-2 as soon as possible. The GST TRAN-2 should be filed very carefully because one mistake may change the credit value to be utilized. The credit in TRAN-2 can only be filed for the credit to be taken for the goods sold in the period of July to December 2018. The credit will be available for only those goods which are held as stock and purchased in previous one year only. No credit will be applicable for credit if purchased in last one year or more. 

When you have filed the TRAN-1, the opening stock is mentioned in the form and only those goods will be applicable for the credit to be availed. In the TRAN-2 the credit will be provided at the concessional rate of 60%(30%CGST + 30%SGST) if the output tax rate is 18% or more and if the output tax rate less than 18%, then the credit will be available for only 40%(20%CGST + 20%SGST). So be careful of the ratio and the tax credit to be availed. In TRAN-2 credit will be available for only CGST(30% of output tax).

Note:- If there is no sale in the month of July for a one or two HSN code(Product), then please enter the opening stock with zero supply and the closing stock. So that the stock can be carried forward for the credit. If you don’t mention the closing stock in the month of previous months you can’t be able to avail the credit in the further periods.