Tran 1 can be filed by June 30:
In an earlier judgment Delhi high court observed that the last date for Tran 1 is 30th June. The time limit under the limitation Act will apply. The 90 days time limit given in CGST rules is only directory provision. You may remember that after this decision, CBIC notified the amendment in section 140 of the CGST Act. It was notified retrospectively from 1st July 2017. Now it is clarified that Tran 1 can be filed by June 30, 2020.
It created confusion for the applicability of the decision of Delhi high court. In the case of SKH SHEET METALS COMPONENTS, the honorable high court has upheld its earlier decision. In other words, the time limit for filing of Tran 1 is still 30th June 2020. Also, the govt is asked to advertise and give an opportunity to file Transitional credit.
It is a big relief for the taxpayer. The court directed the CBIC to make it open for everyone. It is also clarified that the limitation period is still applicable in spite of the retrospective amendment.
