About the author

Pugal T & Yarab A

52 Comments

  • WE HAVE NO INPUT CREDIT ON 30TH JUNE 2017 AND WE HAVE ONLY TAXABLE STOCK 01st JULY 2017 THEN WE ARE ELIGIBLE IN GST ON TAXABLE CLOSING STOCK FOR CENVAT CREDIT OR NOT.
    AND WHAT WE DO? WE FILL TRAN 1 OR NOT? PLEASE REPLY SIR.

    FROM ,
    NISHANT AGARWAL

  • In Tally ERP latest versionHow How to pass entry for new purchases of capital goods and to avail ITC on it.
    Also what about depreciation entry ,- different rates of depreciation for different items.

    • You need a create a ledger under fixed assets and account it in purchase voucher. For accounting depreciation, you need to record a Journal voucher. To know more , please visit TallyHELP

  • In Tally ERP 9 latest version How to load expenses on bulky materials in stock item cost.
    There are some items which incurred huge cost of materials handling and transportation say cement, lime, etc.
    At times even total overhead expenses are upto 2 times or more than basic cost of materials

  • 1. Is full ITC CREDIT available for Registered Importer?

    2. Do we have to pay the Differential amount of C Forms pending right after filing of Tran1 Form?

    Please reply my above queries

  • Basically I am an Accountant and handle several accounts of FMCG Distributors and Transport Contractors. Willing to buy Silver Edition for my undertaking job. Please guide. Thanks

  • If a person dealing in business of textiles which was not liable to tax under earlier laws,Whether he can claim ITC on closing stock on which he has not paid any taxes under old law…Whether he is eligible to ITC under GST regime for the stock outstanding on 30 June.

  • For the closing stock 30.06.17 centara exise are paid it can be claimed ABORTMENT of 60% for 18 & 28 gst How it ……….?

  • Dear sir
    We have fill the liability of form c in tran1 and diff liability ₹ 10 lakh and submitted the TRAN1 and also filled but our pending form c are coming from customers with in 2 months and our input gst for the month of July 2017 rs.5 lakh adjusted against the liability of form c. So it is requesting to you please allow the amendment in tran1. Thanking you

  • Will Tally help me in filing GST TRAN-1?

    I have about 350 types of stock items as on 30th June 2017, on which I have to claim transitional ITC (only excise duty). Since my stock is duly updated in Tally, I wish that my GST TRAN-1 was auto generated by Tally. Since I am not registered under Excise and do not fill Excise separately into Tally, it will not be possible for Tally to calculate the amount of duty to be claimed. However, even if Tally can provide my purchase invoice numbers (assumnig FIFO basis) against which each stock item was purchased in one single list, it will be a huge help. For example:

    I have two stock items A & B on 30th June 2017. A – 30 pieces and B – 100 kgs
    Last purchase invoice on A was for 12 pieces, Supplier Inv. No.212 dt. 25-6-2017, and second last purchase invoice was for 20 pieces, Supplier Inv. No.202 dt.22-6-2017. Last purchase invoice for B was for 125 kg, Supplier Inv. No.A45 dt.31-5-17. I would like Tally to show me a list something like below:

    A – 30 pcs – Inv. No.212 – 12 pcs, Inv. No.202 – 18 pcs
    B – 100 kg – Inv. No.A45 – 100kg

    If I get the Invoice numbers, I can easily fill the duty amount manually. (SAME AS ABOVE)

    • You need to fill the details manually in the GST Portal. Very soon, we will publishing an article on How extracting the details required to fill Form GST TRAN-1

  • I was not registered under C.Excise. Have closing stocks of raw materials and finished goods on 1st July,2017, Some of the raw materials are against C.Excise details whereas others are not. What Form of Clause 7(a),7(b),7(c),7(d) of TRAN-1 Form is required to be filled by me?

  • WE ARE DEALER FOR TRACTOR ,TRACTOR SPARES AND SERVICE. WE HAVE PURCHASE INVOICES OF VAT, CST AND EXCISE. THERE ARE ALMOST 1500 ITEMS. IN SPARES. TO CLAIM ITC ON OPENING STOCK AS ON 1 JULY 2017 , WHETHER WE NEED TO UPLOAD HSN CODE WISE
    FOR ABOVE PURCHASES OR/AND INVOICE WISE. PLEASE ELABORATE. WE ARE USING TALLY ACCOUNTING SOFTWARE SINCE 12 YEARS , IS THERE ANY OPTION IN TALLY TO EXTRACT DETAILS FOR TRAN 1

  • We wish to claim only the unavailed ITC on capital goods as Transitional Input Tax credit.
    Therefore we wish to know whether we have to fill all the sections of the TRANS 1, even when we have no other ITC to claim.

  • Can i take the input credit ofstock which are more than one year older.and purchased from trader only paying the cst.

    • Transitional credit on stock which are more than 12 months are not allowed. Also,CST paid will not be eligible for claiming transitional credit.

  • Will Tally help me in filing GST TRAN-1?

    I have about 350 types of stock items as on 30th June 2017, on which I have to claim transitional ITC (only excise duty). Since my stock is duly updated in Tally, I wish that my GST TRAN-1 was auto generated by Tally. Since I am not registered under Excise and do not fill Excise separately into Tally, it will not be possible for Tally to calculate the amount of duty to be claimed. However, even if Tally can provide my purchase invoice numbers (assumnig FIFO basis) against which each stock item was purchased in one single list, it will be a huge help. For example:

    I have two stock items A & B on 30th June 2017. A – 30 pieces and B – 100 kgs
    Last purchase invoice on A was for 12 pieces, Supplier Inv. No.212 dt. 25-6-2017, and second last purchase invoice was for 20 pieces, Supplier Inv. No.202 dt.22-6-2017. Last purchase invoice for B was for 125 kg, Supplier Inv. No.A45 dt.31-5-17. I would like Tally to show me a list something like below:

    A – 30 pcs – Inv. No.212 – 12 pcs, Inv. No.202 – 18 pcs
    B – 100 kg – Inv. No.A45 – 100kg

    If I get the Invoice numbers, I can easily fill the duty amount manually.

  • dear sir,
    we are a dealer of fertiliser and agricultural inputs where we paid vat on MRP..
    we have a closing stock of different fertilisers where we paid vat@6.1% if calculated vat on mrp. the stock is valuyed at Rs 56.00 lacs approx and tax paid on vat is Rs 256000/ approx. can we claim the said imput in tran 1 and what is the last date of submission of the form with claim. kindly reply.

    regards

    biswaranjan datta

  • We have stock of more than 12 months and not covered by any tax paid documents.
    Where to disclose this stock in TRAN 1, on which we are not claiming Input TAX

    • For stocks which are more than 12 months, transitional credit will not allowed. These are not required to be declared in Form GST TRAN-1.

  • We are first stage dealer registered under excise. Which part of GST TRANS-1 to be filled by us?

    Plz guide

© Tally Solutions Pvt. Ltd. All rights reserved - 2017