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 amount of Value Added Tax that has been paid before the appointed day, on such supplies to which this provision is applicable and the amount of Tax Credit admissible thereon, which is to be carried forward."
Explanation- The amount of tax credit admissible shall be the amount calculated under subclause (ii) of clause (b) of sub-section (3B) of section 42 of the Maharashtra Value Added Tax Act, 2002.