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The person who satisfies all the following conditions must file Form Tran 2
- The person aiming to claim the ITC should be registered under GST but should not be registered under any pre-GST regime.
- The person should not possess any invoice or other documents that act as an evidence of payment of taxes.
- The person should neither be a manufacturer nor a supplier of services under Central Excise or Service Tax respectively.
- The closing stock should be lying on 30thJune 2017.
Filing Of Tran-2
- Form TRAN – 2 can be filed by a dealer/trader who has registered for GST, but was unregistered under the old regime. Such a dealer who does not have a VAT or excise invoice for stocks held by them on 30th June 2017, can use TRAN -2 to claim tax credit on the stock with them.
- Tran 2 form will be filed monthly from July 2017 to December 2017.
- A manufacturer or service provider cannot file Form GST TRAN – 2.
- TRAN-2 has to be filed by a dealer or trader at the end of every month, when stock is sold reporting the details to claim input tax credit.
Details to be mentioned
- GSTIN: Provide GSTIN
- Name of Taxable Person: Provide name here
- Tax period: mention the month and year for which this form is being filed
- Details of inputs held on stock on 1st July for which you do not have any invoice/document evidencing payment of tax carried forward to electronic credit ledger.
- Stock held with no supporting document showing payment of Excise Duty(Central Tax)
If we do not have a document showing the payment of Excise Duty , then you are supposed to fill the following details –
Here you must give details of the Stock in the following manner:-
- In column 1, HSN code of the opening stock for the month
- In column 2, the unit of measurement of the opening stock for the month
- In column 3, quantity of opening stock for the month
- In column 4, quantity of goods sold in the month
- In column 5, taxable value of goods sold for the month
- In column 6, if sold intra state mention CGST
- In column 7, if goods sold are sold interstate, then the amount of IGST paid must be mentioned.
- In column 8, credit of central tax(input credit of CGST) claimed shall be
- If the CGST paid in column 6 is 9% or more than the ITC to be claimed is 60% of column 6. If not then it is 40% of column 6
- If the IGST paid in column 7 is 18% or more, then the ITC to be claimed is 30% of column 7. If not then it is 20% of column 6.
- Below is the link of Format of GST TRAN-2
- GST TRAN-1