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THE KARNATAKA GOODS AND SERVICES TAX RULES 2017
Chapter XIV - Transitional Provisions

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 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.

(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 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 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 subsection (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 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.