Rule

Description

117.

Tax or duty credit carried
forward under any existing law
or on goods held in stock
on the appointed day

(1)

Every registered person
entitled to take credit of input tax under section 140 shall, within ninety
days of the appointed day, submit a declaration electronically in FORM GST TRAN-1, duly signed, on the
common portal specifying therein, separately, the amount of input tax credit of eligible duties
and taxes, as defined
in Explanation 2 to section 140, to which he is entitled under the provisions
of the said section:

Provided that the Commissioner may,
on the recommendations of the Council, extend the period of ninety
days by a further period not
exceeding ninety days. The due date
for submitting the declaration in FORM GST TRAN-1 is extended till 31st
October, 2017
[Order 3/2017]

Provided further that where the inputs have been received from
an Export Oriented Unit or a unit
located in Electronic Hardware Technology Park,
the credit shall be allowed to the extent as
provided in sub-rule (7) of rule 3 of the CENVAT Credit Rules, 2004.

(1A)

Notwithstanding
anything contained in sub-rule (1), the Commissioner may, on the
recommendations of the Council, extend the date for submitting the
declaration electronically in FORM GST
TRAN-1
by a further period not beyond 31-Mar-2019, in respect of
registered persons who could not submit the said declaration by the due date
on account of technical difficulties on the common portal and in respect of
whom the Council has made a recommendation for such extension.
[Notification No.48/2018]

(2)

Every declaration under sub-rule (1) shall-

(a) in the case of a claim under sub-section (2) of section 140,
specify separately the following particulars in respect of every item of
capital goods as on the appointed day-

(i)  
the amount
of tax or duty availed or utilized by way of input tax credit under each of the existing laws till
the appointed day; and

(ii) 
the amount
of tax or duty yet to be availed or utilized by way of input tax credit under
each of the existing laws till the appointed
day;

(b) in the case of a claim under sub-section (3) or clause (b) of
sub-section (4) or sub- section (6) or sub-section (8) of section
140, specify separately the details of stock held on the appointed day;

(c)  in the case of a claim under sub-section (5) of section 140,
furnish the following details, namely:—

(i)  
the name
of the supplier, serial number and date of issue of the invoice by the supplier or any
document on the basis of which credit of input tax was admissible under the
existing law;

(ii) 
the
description and value of the goods or services;

(iii) the quantity in case of goods and the unit
or unit quantity code thereof;

(iv) the amount of eligible taxes
and duties or, as the case may be, the
value added tax [or entry tax]
charged by the supplier in respect of the goods
or services; and

(v)  the date on which the receipt of goods or services is entered in the books of account of the recipient.

(3)

The amount of credit specified in the application in FORM GST TRAN-1 shall be credited to the electronic credit ledger of the applicant maintained in FORM GST
PMT-2
on the common portal.

(4)

(a) (i) A registered person who was not registered under the
existing law shall, in accordance with the proviso to sub-section (3)
of section 140,
be allowed to avail of input tax credit on goods (on which the duty
of central excise or, as the case may be, additional duties of customs under
sub-section (1) of section 3 of the Customs Tariff Act, 1975, is leviable)
held in stock on the appointed day
in respect of which he is not
in possession of any document evidencing payment of central
excise duty.

(ii)  
The input
tax credit referred to in sub-clause (i) shall be allowed at the rate
of sixty per cent.
on such goods which attract central tax at the rate of nine per
cent. or more and forty per cent. for other
goods of the
central tax applicable on supply of such goods
after the appointed date
and shall be credited after
the central tax
payable on such
supply has been
paid:

Provided
that where integrated tax is paid on such goods, the amount of credit shall
be allowed at the rate of thirty per cent. and twenty per cent. respectively
of the said tax;

(iii) The scheme shall be available for six tax periods from the
appointed date.

(b) 
The credit
of central tax shall be availed subject to satisfying the following
conditions, namely:-

(i)    
such goods
were not unconditionally exempt from the whole of the duty of excise
specified in the First Schedule to the Central Excise Tariff Act, 1985 or
were not nil rated in the said Schedule;

(ii)  
the document for procurement of such goods
is available with
the registered person;

(iii) The registered person availing of this scheme and having
furnished the details of stock held by him in accordance with the provisions
of clause (b) of sub-rule (2), submits a statement in FORM GST TRAN 2
by 31st March 2018, or within such period as extended by the Commissioner, on
the recommendations of the Council, for each of the six tax periods during
which the scheme is in operation indicating therein, the details of supplies
of such goods effected during the tax period;
[Notification No.12/2018]

Provided
that the registered persons filing the declaration in FORM GST TRAN-1 in accordance with sub-rule (1A), may submit the
statement in FORM GST TRAN-2 by
30-Apr-2019.
[Notification No.48/2018]

(iv) the amount of credit allowed
shall be credited to the electronic credit ledger of the
applicant maintained in FORM GST PMT-2
on the common portal; and

(v)  
the stock
of goods on which the credit is availed is so stored that it can be easily identified
by the registered person

118.

Declaration
to be made u/s 142 (11) (c)

 

Every person to whom the provision of clause (c) of
sub-section (11) of section 142 applies, shall within the period specified in
rule 117 or such further period as extended by the Commissioner, submit a
declaration electronically in FORM GST
TRAN-1
furnishing the proportion of supply on which Value Added Tax or
service tax has been paid before the appointed day but the supply is made
after the appointed day, and the ITC admissible thereon

119.

Declaration of stock held
by a principal and job-worker

 

Every person to whom the provisions of section 141 apply
shall, within the period specified in rule 117 or such further period as
extended by the Commissioner, submit a declaration electronically in FORM GST TRAN-1, specifying therein, the stock
of the inputs, semi-finished goods or finished
goods, as applicable, held by him on the appointed day

120.

Details of goods sent on approval basis

 

Every person having sent goods on approval under the existing law and to whom sub-section (12) of section 142 applies shall, within the period specified in
rule 117 or such further period as extended by the Commissioner, submit
details of such goods sent on approval in FORM GST TRAN-1

120A.

Revision of declaration in FORM GST
TRAN-1

 

Every registered person who has submitted a declaration
electronically in FORM GST TRAN-1 within the time period specified in rule
117, rule 118, rule 119 and rule 120 may revise such declaration once and
submit the revised declaration in FORM GST TRAN-1 electronically on the
common portal within the time period specified in the said rules or such
further period as may be extended by the Commissioner in this behalf
[Notification 34/2017]. The due date is extended till 31st October 2017 [Order 2/2017]

121.

Recovery
of credit wrongly availed

 

The amount credited under sub-rule (3) of rule 117 may be verified and proceedings under
section 73 or, as the case may be, section 74 shall be
initiated in respect of any credit wrongly availed, whether wholly or partly